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Benzinga
Benzinga
Business
Kaustubh Bagalkote

Alibaba Stock Pops 6% In Hong Kong As Homegrown AI Chips Rival Nvidia's H20, $3.2 Billion Bond Raise Fuels Rally

BABA Alibaba Nvidia Artificial Intelligence e-commerce
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Alibaba Group Holding Limited (NYSE:BABA) (OTC:BABAF) jumped 6.35% to HK$152.40 ($19.58) on the Hong Kong Exchange on Friday morning, extending its remarkable 83.95% year-to-date gains as investors reacted positively to the Chinese e-commerce giant’s aggressive artificial intelligence expansion strategy and $3.2 billion fundraising.

$53 Billion AI Investment Fuels Growth Momentum

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