Alibaba Group Holding Ltd is a leading multinational conglomerate specializing in e-commerce, retail, and technology. The company operates various online marketplaces that connect consumers and businesses, facilitating the sale of goods and services. Beyond e-commerce, Alibaba has diversified its offerings to include cloud computing, digital media, and entertainment, striving to empower businesses with innovative technology solutions. With a strong focus on integrating online and offline experiences, Alibaba continuously evolves its platform to meet consumer demands and optimize supply chain efficiency. The organization's mission is to make it easy to do business anywhere, leveraging its expansive reach to foster global commerce. Read More
Alibaba Group Holding Ltd (NYSE: BABA) saw its Hong Kong-listed shares surge by over 19% on Monday amid strong quarterly performance of the company's cloud computing unit and the unveiling of a new AI chip.
Alibaba unveiled a new AI chip to counter U.S. tech restrictions, Trump threatened tariffs over Europe's tech regulations, and ByteDance's valuation surged past $330 billion, capping a weekend of major tech and geopolitical shifts.
Alibaba's new AI chip, Fed rate cut doubts, Trump's strategic investments, defense stock surge, and Cracker Barrel's logo backlash led this weekend's top headlines.
Alibaba's new AI chip aimed at reducing reliance on Nvidia sent the chipmaker's stock lower Friday, but investor Ross Gerber dismissed the move as "laughable" posturing that won't diminish demand for Nvidia's Blackwell GPUs.
Investor sentiment faded on Friday as a key inflation gauge closely watched by the Federal Reserve climbed to a five-month-high, casting fresh uncertainty over the timing of potential interest rate cuts.
Alibaba shares surged over 10% in Friday’s midday trade after the company was reported to be developing a new AI chip to fill the void left by Nvidia due to regulatory hurdles.
