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Alibaba shares rise 3% on smart chip
Alibaba has generated significant interest after unveiling its new AI chip, the Zhenwu V900, which delivers performance three times greater than the previous version. This announcement was made during the annual APSARA Conference in Hangzhou. The company also revealed plans to expand its global data center capacity to over 20 gigawatts by 2032, aiming to support the AI boom and meet the demands of modern technologies. The new chip is scheduled to enter commercial production in the first quarter of 2027. Currently, the previous model, Qwen, is used by more than 650 clients across various sectors. Continuous development of AI models remains a key pillar of Alibaba's strategy to enhance its technological capabilities and stay competitive in the global market.
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