HK Stock Market Move | BABA-W(09988) opened nearly 4% higher, with news that its chip company Pingtouge is planning to independently list.

BABA-W (09988) opened nearly 4% higher, rising 3.88% to HK$171.2 as of the time of reporting, with a trading volume of HK$8.11 billion. On the news front, according to reports citing informed sources, Alibaba is preparing for its AI chip manufacturing company "Pingtouge" (T-Head) to be independently listed. Alibaba plans to reorganize it as a business entity partially owned by employees, and then seek an initial public offering (IPO), but the specific listing time has not been determined yet, and the move is still in the preparation stage. Pingtouge was established by Alibaba in 2018 as a semiconductor chip company, integrated from the acquisition of C-Sky Microsystems by Alibaba Group, and the internal chip team of Alibaba Damo Academy, focusing on AI chips and RISC-V ecosystem technology. As of now, Pingtouge has launched AI inference chips like Guang 800, CPU Yitian 710, and AI chip PPU in the field of computing power chips, and SSD controller chip Zhenyue 510 in the storage chip field. It is also said to be launching related chips in the network chip field, and has already laid out a full-stack chip for data centers. Pingtouge has also released the Yuzhen IoT chip in the edge chip field, with shipments reaching hundreds of millions, covering both cloud and terminal.