ALIBABA SHARES JUMP 19% ON CLOUD UNIT ACCELERATION, REPORT OF NEW AI CHIP

Summary from the TLDR newsletter

Alibaba's shares are now at their highest level since March. The tech giant has been investing in AI infrastructure and developing its own models, as well as selling AI services for its cloud computing unit. AI-related product revenue maintained triple-digit year-over-year growth for the eighth consecutive quarter. Alibaba's core e-commerce business has been showing signs of revival. It recently introduced a feature on Taobao that provides deliveries of certain products in China within an hour.