Alibaba Stock Surges 13% on Strong AI-Driven Cloud Growth
The Chinese tech giant reported a 26% jump in cloud revenue on August 29 and announced it is testing a new in-house AI chip.
Chinese technology giant Alibaba Group saw its U.S.-listed shares surge 13% on August 29, 2025, after the company reported surprisingly strong growth in its cloud division, fueled by intense demand for artificial intelligence products. The company also announced it is testing a new, in-house AI chip, a move seen by investors as a critical step toward technological self-sufficiency.
The strong performance of Alibaba's cloud and AI businesses stood in stark contrast to a broad sell-off in the U.S. tech sector on the same day.
Cloud Becomes the Profit Engine
For its first fiscal quarter, Alibaba's Cloud Intelligence unit reported …
Archive Access
This article is older than 24 hours. Create a free account to access our 7-day archive.