Alibaba rebounded after unveiling its second Dubai data center to expand AI and cloud services. The move aligns with UAE’s major AI investments and partnerships with Nvidia, OpenAI, and Wio Bank, boosting Alibaba’s 92% YTD rally.
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Alibaba Group regained Tuesday's losses in Wednesday's pre-market trading as it deepened its investment in artificial intelligence according to Benzinga.
00:09The company opened a second data center in Dubai to meet growing regional demand for cloud computing services.
00:14Vice President Eric Wan said the Middle East's strategic location and supportive ecosystem make it ideal for accelerating AI growth across public and private sectors.
00:23The expansion supports the UAE's major AI investments, including building the world's largest AI campus outside the U.S.
00:29with NVIDIA and OpenAI.
00:31Alibaba Cloud partnered with Abu Dhabi-backed WheelBank to use Dubai's infrastructure to speed up AI deployment.
00:37The company's 92% year-to-date gain reflects investor confidence in its AI and cloud growth,
00:42hosted by Chair Joe Tsai's optimism on U.S.-China trade ties.
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