Alibaba And SMIC Power Beijing's Bid To End Reliance On Nvidia And ASML

Benzinga

Alibaba shares rose in premarket trading on Wednesday after reports that China Unicom agreed to use its artificial intelligence chips, according to Benzinga. The deal highlights Beijing’s push to develop domestic alternatives as U.S. restrictions block access to Nvidia’s advanced accelerators. CCTV confirmed Alibaba Cloud has already delivered tens of thousands of chips to Unicom, while Alibaba pledged $53.5 billion over three years to expand AI infrastructure. Shares are up more than 91% year-to-date, recently surpassing their 52-week high of $163.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Alibaba shares rose in pre-market trading on Wednesday after reports that China Unicom

00:06agreed to use its artificial intelligence chips, according to Benzinga.

00:10The deal highlights Beijing's push to develop domestic alternatives

00:12as U.S. restrictions block access to NVIDIA's advanced accelerators.

00:16CCTV confirmed Alibaba Cloud has already delivered tens of thousands of chips to Unicom.

00:21Alibaba pledged $53.5 billion over three years to expand AI infrastructure.

00:25Shares are up more than 91% year-to-date, recently surpassing their 52-week high of $163.

00:32For all things money, visit Benzinga.com.

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