Alibaba’s Hong Kong shares jump nearly 19% as AI boom drives cloud unit sales
Alibaba's cloud unit revenue rose 26% with AI product sales growing triple digits for the eighth consecutive quarter, boosting investor confidence despite food delivery challenges.
- On Monday, Alibaba Group Holding Ltd.'s Hong Kong shares jumped nearly 19%, boosted by investor optimism over its AI chip and cloud unit progress.
- The company's cloud unit delivered a 26% revenue rise to 33.4 billion yuan, while AI-related product sales maintained triple-digit growth in the quarter.
- The company reported total quarterly revenue of 247.7 billion yuan, while customer management revenue increased 10% to 89 billion yuan in the June quarter.
- Asian markets saw Alibaba lift the index, with the Hang Seng rising 2% and U.S.-listed Alibaba shares rallying about 15% after the results on Monday.
- Analysts including Chelsey Tam wrote on September 1 that cloud revenue growth could accelerate over two years despite profitability pressure from a fierce food-delivery price war with JD.com and Meituan.
75 Articles
75 Articles
Alibaba Shares Surge 19% on AI Cloud Revenue Growth
Alibaba Group Holding Ltd.’s shares soared nearly 19% in Hong Kong trading on Monday, marking the company’s biggest single-day gain since early 2023 and propelling the Hang Seng Index to a robust 2% advance amid otherwise subdued Asian markets. The e-commerce giant’s stock closed at HK$137, reflecting investor enthusiasm for its accelerating cloud computing division, fueled by artificial intelligence investments that are reshaping its growth tra…
Alibaba Stock Surged Nearly 19% Higher In Hong Kong On Monday: What's Going On - Alibaba Gr Hldgs (NYSE:BABA), NVIDIA (NASDAQ:NVDA)
Alibaba Group Holding Ltd (NYSE:BABA) saw its Hong Kong-listed shares surge by 18.5% on Monday amid strong quarterly performance of the company’s cloud computing unit and the unveiling of a new AI chip. Cloud Growth Pushes Alibaba Shares To March peak The stock’s surge on Monday marked its highest level since March. The company’s cloud computing unit was the driving force behind the impressive quarterly results, with investors showing confidence…
Alibaba Shares Soar 18.5% On Strong AI And E-Commerce Outlook
Shares of Alibaba surged 18.5% in Hong Kong on Monday as investors were encouraged by Chinese web giant’s progress in AI and its core e-commerce business despite a sizzling price war in the food-delivery sector that is hurting its profitability.
Alibaba gains $50 billion value after AI progress fuels rally
Alibaba Group Holding Ltd.’s stock leapt more than 19% after reporting a surge in revenue from AI, underscoring the steady headway it’s making against rivals in a post-DeepSeek Chinese development frenzy. China’s e-commerce leader posted a triple-digit percentage gain in AI-related product revenue as well as a better-than-anticipated 26% jump in sales from the cloud division—the business most closely tied to the artificial intelligence boom. Tha…
Coverage Details
Bias Distribution
- 51% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
