Alibaba shares jump 19% on cloud unit growth, report of new AI chip
On Thursday, February 6, 2025, Hangzhou, China, Alibaba Group Holding Ltd. Sign in the center.
Qilai SEN | Bloomberg | Getty Images
AlibabaHong Kong, the Chinese technology giant cloud computing unit has strong three -month consequences, while details on the development of the new AI chip, more than 19% shared on Monday.
It is the highest level for stock since March. Investors supported the healing performance of the company’s key cloud unit, and they are satisfied with the investment of the technology giant in new areas-especially “instant trade”, which has become incredibly competitive in China.
Hong Kong Rally, AlibabaOn Friday, the company’s shares listed in New York is about 13% higher.
Alibaba last week, 247.65 billion China Yuan ($ 34.73 billion) revenue for the June quarter, and still signaled an annual increase of an annual increase of analyst expectations. At the top, the annual increase in net income came to estimates.
The Chinese company’s cloud computing unit was a bright point that generated 26%income annually, which was a faster growth rate than it was seen in the previous quarter. Alibaba’s cloud growth is accelerating in the last few quarters.
Like some Chinese and US technology competitors, Alibaba invests in AI infrastructure and develops its own models and sells AI services for the cloud computing unit. Investors see the department as the key to the company’s efforts to make money from artificial intelligence, such as Microsoft or Google.
The company said on Friday, the product revenue of artificial intelligence, “the three -digit growth for the eighth quarter in a row,” he said.
On the same day, CNBC reported that Alibaba developed a new AI chip that supports the stock price rally on Monday.
Alibaba’s nucleus e-commerce in the meantime showed signs of revival, while the company jumped into the trade area of China’s interrupted instantly. This is a feature introduced in Taobao, one of the main Chinese e-commerce applications of Alibaba, which provides the deliveries of certain products in China this year within one hour.
Fast trade investments focused on Alibaba’s corrected earnings for e-commerce business. Investors gave the company some way to invest for now.
