Alibaba Group is trading 3.38% up now in pre-market at $119.66 after unveiling the Zhenwu V900 AI chip.
- Alibaba says the chip delivers three times the performance of its predecessor.
- The company plans Qwen models with 5 trillion to 10 trillion parameters and targets more than 20 gigawatts of data-center capacity by 2032.
- Reuters reported the announcements sent Hong Kong-listed shares up 5.1%, supporting the pre-market move.