What's Going On With Alibaba Shares Wednesday?

Benzinga

Alibaba shares traded higher on Wednesday after reports that the company secured China Unicom as a major client for its AI chips. Bloomberg said the contract will see Alibaba’s Pingtouge accelerators deployed in a new data center in northwestern China, alongside chips from MetaX and Biren Technology. Visuals suggest Alibaba is deploying tens of thousands of AI chips in Unicom’s datacenters to compete with Huawei’s Ascend series and Cambricon Technologies. Alibaba has committed about $53.5 billion over three years to expand its AI infrastructure and reduce reliance on Nvidia’s designs.

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

00:02Alibaba shares traded higher on Wednesday after reports that the company secured China

00:06Unicom as a major client for its AI chips. Bloomberg said the contract will see Alibaba's

00:10Pintug Accelerators deployed in a new data center in northwestern China,

00:14alongside chips for MetaX and Barron Technology. Visuals suggest Alibaba is deploying tens of

00:19thousands of AI chips in Unicom's data centers to compete with Huawei's Ascend Series and

00:24CameraCon Technologies. Alibaba has committed about $53.5 billion over three years to expand its

00:30AI infrastructure and reduce reliance on NVIDIA's designs. For all things money, visit Benzinga.com.

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