Alibaba-W (09988) surged 5% during Wednesday's intraday trading, reflecting strong investor confidence in its AI and cloud computing initiatives.
The rally follows CICC's research report maintaining a Buy rating on Alibaba, citing a projected 30%+ CAGR for Alibaba Cloud revenue over three years. The bank highlighted accelerated cloud growth (36% YoY in Q3 FY2026) and intensified AI infrastructure investments as key drivers. Concurrently, Alibaba's Qwen AI models reportedly surpassed 700 milestones, fueling a 10.5% spike in its NYSE-listed shares earlier this week. The stock also benefited from a broader HK AI sector rally, with peers like Knowledge Atlas and Weimob gaining up to 13%.
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