Alibaba shares jump as new AI chip, data center buildout plans unveiled
Alibaba shares jumped 3% in Hong Kong on Tuesday as the tech giant unveiled a new AI chip and plans to sharply expand its global data center capacity
TL;DR
- Alibaba's shares rose approximately 3% in Hong Kong following the announcement of a new AI chip and data center expansion plans.
- The company introduced the Zhenwu V900, its next-generation AI chip, promising three times the performance of the previous model.
- Alibaba Cloud plans to increase its global data center capacity to over 20 gigawatts by 2032.
- The new Zhenwu AI chip is slated for mass production and commercial release in the first quarter of 2027.
- Alibaba also mentioned upcoming Qwen 4.5 and Qwen 5 AI model series.
- The company's CEO compared AI development to the early stages of electrification, highlighting its growth potential.