Alibaba Unveils AI Chip to Rival Nvidia

Benzinga

Alibaba reported $34.5B in revenue and unveiled a new AI inference chip built in China to reduce reliance on foreign tech. E-commerce surged with Taobao Instant Commerce, cloud AI products posted triple-digit growth for the eighth straight quarter, and shares jumped over 5%. With $53B committed to AI and cloud, Alibaba is betting its future on consumption and next-gen tech

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00:00Alibaba just launched a new AI chip to take on NVIDIA and it could reshape global tech.

00:05You see, after reporting $34.5 billion, Alibaba's CEO says the company sees historic opportunities in AI and quick commerce.

00:15But here's why this matters right now.

00:17Alibaba's e-commerce surged with its new Taobao Instant Commerce, driving a 25% jump in active users.

00:25Meanwhile, its cloud division saw AI product revenue explode.

00:29Triple-digit growth for the eighth straight quarter.

00:32And now, Alibaba is testing a brand new AI inference chip built in China, designed to rival NVIDIA, and cut reliance on foreign tech.

00:41With $53 billion earmarked for AI and cloud, Alibaba's shares jumped more than 5% today up to $125.68 at the time of recording.

00:51The company says it's betting its future on two pillars, consumption and AI plus cloud.

00:56Do you think China's homegrown AI chips really can compete with NVIDIA?

01:00Drop your thoughts and follow Benzinga for real-time market news.

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