Earlier this week, Alibaba (BABA) stock gained momentum after Chinese state media reported that the e-commerce giant had secured a major AI customer, believed to be China Unicom, the country's second-largest telecommunications company.
According to China's CCTV broadcaster, China Unicom will deploy Alibaba's AI accelerators from its semiconductor unit, T-Head, as part of a massive new data center project in Qinghai Province. While Alibaba doesn't sell chips directly, customers access the computing power through its cloud services platform.
