Alibaba HK shares hit a month high on unveiling new chip, AI model plan

Alibaba Holding

22/09/2026 04:20

** Hong Kong shares of Alibaba Group 9988.HK surge 5.1% to HK$118.3, their highest level since August 21
** Stock set for biggest one-day pct gain since August 3 in the third straight session of gains
** Second biggest pct gainer in benchmark Hang Seng Index .HSI, which rises 0.6%
** Chief Executive Eddie Wu says Alibaba plans to train a new artificial intelligence model with 5 trillion to 10 trillion parameters, as the Chinese technology giant laid out a sweeping push across AI models, chips and data centres
** Company also unveils Zhenwu V900 AI chip, saying it is the most powerful in China with three times the performance of its predecessor
** Alibaba's Hong Kong-listed stock down 17.9% YTD, while its US-listed shares BABA.N down 21%, Hang Seng TECH Index .HSTECH down 18.6%



 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))