HK Stock Market Move | BABA-W (09988) rose more than 4% in the afternoon, Alibaba Cloud announced a maximum price increase of 34%

BABA-W (09988) rose over 4% in the afternoon trading, up 4.01% at the time of writing, at 140 Hong Kong dollars, with a turnover of 8.65 billion Hong Kong dollars. On the news front, Alibaba Cloud announced on its official website that due to the global surge in demand for AI and rising supply chain costs, prices for Alibaba Cloud AI computing power, storage, and other products have increased by up to 34%. Among them, products such as the Pingtou Ge Xinhua 810E computing card have risen by 5%-34%, while file storage product CPFS (Intelligent Computing Edition) has risen by 30%. According to sources quoted by CAIJING media, another important reason for this price increase is the "explosive increase in Token calls". Alibaba Cloud's MaaS business has achieved its highest growth rate in history in the first quarter of this year. Alibaba Cloud is shifting its scarce AI computing resources towards Token business. Previously, on March 17, Alibaba announced the world's first enterprise-level AI-native work platform, "Wukong", allowing every team and company to have a 24-hour working "lobster legion". Earlier, Alibaba announced the establishment of the Alibaba Token Hub (ATH) business group, aiming to establish a new organization with the core goal of "creating Token, transmitting Token, and applying Token", led directly by CEO Wu Yongming. This move signifies Alibaba's intention to establish a unified "Token scheduling center" to fully support the development of AI core business departments.