The stock boost comes at a critical time for Alibaba, which has seen its valuation slide 20% since October due to regulatory concerns and soft e-commerce earnings; a secured supply of these chips is a critical lifeline for its cloud division.
More on Alibaba
- Alibaba: Look Beyond Lumpy Margins – Promising Instant Commerce/Cloud Growth Ahead
- Alibaba Is Building An AI Arsenal
- Nvidia, AMD, Intel rise as Trump approves sale of H200 chips to China, asks for 25% cut
- Chinese AI startup MiniMax expected to price Hong Kong IPO at top of range: report
- Alibaba challenges Meituan with new AI tool for 3D restaurant tours via Amap- report