HK Stock Market Move | BABA-W (09988) rises over 4%, will go all in on AI infrastructure construction, unveils new-generation AI chip Zhenwu V900.

BABA-W (09988) rose over 4%, up 3.82% as of press time, at HK$116.9, with a turnover of HK$6.825 billion. On the news front, on September 22, Alibaba CEO Eddie Wu said at the Yunqi Conference that customer AI demand is currently very strong, and the company will go all in on AI infrastructure construction, with the goal of exceeding 20GW in the scale of global data centers operated by Alibaba Cloud by 2032. On the same day, T-Head unveiled its most powerful domestic AI chip, the Zhenwu V900, with computing power increased to three times that of the Zhenwu M890. It is reported that T-Head's annual shipments of AI chips will increase significantly. Separately, according to Cailian Press, Alibaba plans to train an artificial intelligence model with 5 trillion to 10 trillion parameters.