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Alibaba and Baidu raise AI computing prices
Alibaba Group Holding Ltd. and Baidu Inc. announced price hikes for their artificial intelligence (AI) computing and storage products, driven by surging global AI demand and rising supply chain costs. Alibaba’s T-Head Zhenwu 810E and other computing cards will see price increases of 5% to 34%, while its CPFS file storage prices will rise 30%. Baidu AI Cloud’s computing services will increase by 5% to 30%, and parallel file storage will go up by 30%. The new prices will take effect April 18.
U.S. and Israel attack Iranian gas facility
The U.S. and Israel attacked Iran’s largest natural gas facility, which processes 40% of the country’s gas, Iranian media reported Wednesday. Iran’s military warned it would severely retaliate against the strikes on its energy infrastructure, declaring oil facilities in Saudi Arabia, the United Arab Emirates, and Qatar as legitimate targets. Hours later, a missile strike caused a massive fire at an exclusive U.S. zone within a refinery in Riyadh, Saudi Arabia, while Qatar’s Ras Laffan Industrial City was also hit.
Trump temporarily waives shipping restrictions
Driven by the military actions and inflation pressures, U.S. President Donald Trump Wednesday authorized a 60-day temporary waiver of the Jones Act to lower domestic energy transportation costs by allowing foreign-flagged vessels to operate between U.S. ports. Furthermore, due to the continuous rise in oil prices, several Southeast Asian nations have issued cash or energy subsidies, and South Korea initiated a resource security crisis alert, considering measures such as vehicle usage restrictions.
Federal Reserve holds rate steady
The U.S. Federal Reserve announced Thursday that it will maintain its target range for the federal funds rate at 3.5% to 3.75%, leaving rates unchanged for the second consecutive meeting. Despite soaring oil prices and inflationary pressures sparked by Middle East conflicts, Federal Open Market Committee members expect one rate cut this year and further cuts in 2027. Chair Jerome Powell stated he is prepared to stay on temporarily after his term ends.
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Companies
Country Garden Holdings Co. Ltd. denied rumors of a mass recall of former employees, stating the move only applies to a few specific positions as the company shifts its focus this year to normal operations from ensuring housing delivery.
Tencent Holdings Ltd. reported a total revenue of 751.8 billion yuan ($109.4 billion) for 2025, representing a 14% increase from the previous year. Company President Martin Lau revealed plans to launch the Hunyuan 3.0 large language model in April.
