Alibaba Group Holding Ltd (NYSE:BABA) (NYSE:BABAF) has just raised the stakes in the U.S.–China tech rivalry. The Chinese e-commerce and cloud giant has unveiled a new AI chip designed to reduce reliance on Nvidia, Washington's favorite export-turned-bargaining chip.
Once one of NVIDIA Corp's (NASDAQ:NVDA) biggest customers, Alibaba is now rolling out silicon of its own to keep China's artificial intelligence engines humming, a move that highlights Beijing's determination to counter U.S. restrictions with homegrown technology.
