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Alibaba Stock Rallies on New 5nm AI Chip Launch
Alibaba BABA +2.98% ▲ 9988 +1.09% ▲ has revealed a new AI chip that it says is more than three times faster than its previous version, as the company steps up its push into AI and cloud computing. The announcement was made at an internal conference on Tuesday, according to local media reports. In Hong Kong, the stock touched an intraday high of HK$122.80 on Tuesday as investors reacted to the update.
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The new XuanTie C950 is a 5-nanometer server chip running at 3.2 GHz and built on open-source RISC-V architecture. Alibaba said it is the highest-performing RISC-V CPU so far but did not disclose the manufacturer.
Chip Push Tied to Bigger AI Plan
The chip is part of Alibaba’s in-house effort led by its T-Head unit and is designed for cloud systems and AI tools that can handle tasks on their own.
This comes just days after Alibaba launched Wukong, a platform that lets firms manage AI agents. It also recently introduced Accio Work globally, a tool for small and medium-sized businesses to run daily operations using AI without coding or setup.
To support these efforts, Alibaba has grouped its AI teams under a new Alibaba Token Hub unit led by CEO Eddie Wu. The unit focuses on building tools that can handle more complex work with less human input.
The move comes as competition in China’s AI market grows and pricing pressure on AI models increases, pushing companies like Alibaba to build stronger in-house capabilities and new revenue streams.
Is Alibaba Stock a Buy Now?
Wall Street remains constructive on the stock. Alibaba carries a Strong Buy consensus rating based on eight Buy ratings and one Hold over the past three months. The average BABA price target stands at $188.38, suggesting roughly 49.44% upside from current levels.
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