HK Stock Market Move | BABA-W (09988) rose over 7% in early trading, reportedly reaching an agreement with the dark side of the moon for 20,000 NVIDIA chips.

BABA-W (09988) surged more than 7% in early trading, and as of the time of writing, it is up 6.24%, priced at HKD 124.3, with a trading volume of HKD 9.057 billion. On the news front, according to Bloomberg, Dark Moon has reached a computing power agreement with major investor Alibaba, allowing it to use a computing power cluster composed of about 20,000 NVIDIA chips, which represents a substantial portion of its Kimi series model's total computing power. In addition, Dark Moon recently completed over USD 3.5 billion in Series F financing, with a valuation reaching USD 35 billion. As the largest internet company investor, Alibaba has participated in every round of funding since Series B+, collectively investing USD 800 million. Based on the latest valuation of USD 33 billion, Alibaba's share corresponds to approximately USD 5 billion, resulting in an unrealized profit of USD 4.2 billion.