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.
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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.
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Hong Kong Stock Performance: BABA-W and PING AN stocks experienced declines of 2.424% and 0.955%, respectively, with significant short selling activity reported for both.
Short Selling Data: BABA-W had a short selling amount of $370.51M with a ratio of 5.392%, while PING AN's short selling reached $436.15M with a ratio of 18.439%.
Stocks Listed in Other Regions: Various international stocks, including TSMC and Samsung Electronics, showed minor fluctuations, with TSMC down by 0.140%.
Market Trends: Daiwa reports a market shift from AI-focused investments to cyclical industries, indicating a gradual transition towards stimulus-related sectors following the Lunar New Year.
