Alibaba-Backed Moonshot AI's K2.5 Model Reaches Global Top Rankings Just One Day After Launch
K2.5 Model Launch: The K2.5 model by Moonshot AI, backed by BABA-W, quickly gained recognition, ranking just below closed-source models on the LMarena chart and leading the open-source category.
Market Performance: The stock experienced a decline of 1.300 (-0.749%) with significant short selling amounting to $1.45 billion and a ratio of 9.259%.
Independent Rankings: In the evaluation by Artificial Analysis, Kimi K2.5 secured the fifth position overall and was the highest-ranked open-source model.
Valuation Insights: JPMorgan estimates BABA-W's T-Head valuation to be between US$25-62 billion, indicating that a spinoff and separate listing are unlikely this year.
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BABA-W CFO: Significant Increase in Southbound Shareholdings Following Stock Connects Inclusion
Stock Performance: BABA-W (09988.HK) experienced a decline of 1.200 (-0.706%) with significant short selling amounting to $726.96M and a ratio of 7.181%.
CFO's Statement: CFO Toby Xu announced at the Asian Financial Forum that the Group completed its dual primary listing in Hong Kong by the end of August 2024.
Increased Shareholding: The Group's inclusion in the Southbound Trading of Stock Connects in September 2024 led to a rise in southbound shareholding, now approximately 11% of the Company's issued capital.
Market Strategy: Xu emphasized the importance of the Hong Kong market as a vital channel for fundraising and connecting with global investors.
BABA-W Considers Investing in AI/Cloud Computing as Part of RMB480B Plan Over Next 3 Years: Sources Say
Investment in AI Infrastructure: Alibaba plans to increase its investment in AI infrastructure and cloud computing from RMB380 billion to RMB480 billion over the next three years.
Enhancing Computing Power: The company is enhancing its computing capabilities by developing its own chip, Zhenwu 810E, and acquiring a significant number of GPUs, including consumer-grade RTX4090 graphics cards for building inference clusters.
