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Alibaba (BABA) Considers Major Purchase of AMD AI Chips to Boost Computing Capacity

Alibaba is considering purchasing 40,000 to 50,000 AMD MI308 AI chips to enhance its AI infrastructure, amid U.S. export controls. This move follows a policy shift allowing limited GPU sales to China. AMD's MI308 chips are designed to comply with export limits, offering Alibaba an alternative to Nvidia. The potential deal signifies a significant opportunity for AMD in the AI chip market, as Alibaba seeks to expand its cloud and AI capabilities.

Tip Ranks·
US
AMD
+0.41%
US
BABA
+0.78%
HK
09988
+0.76%
Tip Ranks·
US
AMD
+0.41%
US
BABA
+0.78%
HK
09988
+0.76%

Quantum Patent War: U.S. and China Dominate 70% as Google, IBM, and China's Tech Giants Advance

A study by South Korea's patent office reveals that the U.S. and China dominate quantum computing patent filings, accounting for 70% of global efforts from 2014-2023. IBM and Google lead in the U.S., while Chinese firms like Origin Quantum, Baidu, and Tencent are rapidly advancing. South Korea ranks sixth but shows strong growth. The trend indicates a shift from basic research to commercial applications, with China accelerating its pace to catch up with U.S. tech giants.

Tip Ranks·
US
TCTZF
+0.32%
US
TCEHY
+0.28%
HK
00700
+0.08%
Tip Ranks·
US
TCTZF
+0.32%
US
TCEHY
+0.28%
HK
00700
+0.08%

Global news you need to know before Monday's U.S. stock market opens

Li Qiang presided over the State Council's "14th Five-Year Plan" Outline Draft Preparation Work Leading Group meeting. The Ministry of Commerce has implemented temporary anti-subsidy measures on imported dairy products originating from the European Union. Federal Reserve Governor Milan stated that recent data may prompt a shift towards a dovish stance. Japan's Finance Minister warned of bold actions against speculation in the foreign exchange market. A former Bank of Japan official warned that the rate hike may exceed expectations. European Central Bank Governing Council member Kazimir stated that the central bank is ready to take necessary actions at any time. The four domestic GPU companies gathered for an IPO. Dongfang Hongyuan Chairman Dan Bin stated that the "AI bubble theory" is noise. Alibaba has open-sourced a new image model Qwen-Image-Layered. Netflix is partially refinancing a $59 billion bridge loan. Global stock markets rose broadly, U.S. stock futures climbed, gold surpassed $4,400, silver continued to hit new highs, and oil prices rebounded over 2%

Wallstreetcn·
US
BABA
+0.78%
HK
09988
+0.76%
US
NFLX
-1.38%
Wallstreetcn·
US
BABA
+0.78%
HK
09988
+0.76%
US
NFLX
-1.38%

Net inflow of HKD 731 million for SMIC through Hong Kong Stock Connect

The net inflow of Hong Kong Stock Connect into SMIC was HKD 731 million, with net inflows of HKD 687 million into Xiaomi Corporation and HKD 597 million into Tencent, while there were net outflows of HKD 579 million from China Mobile and HKD 520 million from Alibaba. The net inflow of Hong Kong Stock Connect (Shanghai) into Tencent was HKD 427 million, with a net outflow from Alibaba of HKD 1.081 billion; the net inflow of Hong Kong Stock Connect (Shenzhen) into Alibaba was HKD 562 million, with a net outflow from China Mobile of HKD 138 million. The total net outflow for the day was HKD 0, with a total transaction amount of HKD 88.223 billion, accounting for 51.96% of the total market transaction amount

AASTOCKS·
US
XIACY
-1.81%
HK
01810
-1.83%
US
TCTZF
+0.32%
AASTOCKS·
US
XIACY
-1.81%
HK
01810
-1.83%
US
TCTZF
+0.32%

Sunny Optical Updates Audit Committee Terms to Strengthen Governance

Sunny Optical Technology (Group) Co has updated its Audit Committee terms to strengthen governance. The new terms require at least three non-executive directors, a majority being independent, and at least one with professional accounting or financial expertise. Former partners of the current audit firm are restricted from joining for two years. The committee’s appointments are subject to board resolution. The latest analyst rating on HK:2382 stock is a Buy with a HK$90.00 price target.

Tip Ranks·
HK
02382
+0.15%
Tip Ranks·
HK
02382
+0.15%
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Tencent, the China cloud giant, cut a deal to use Nvidia’s best AI chips in Japan via Datasection, one of Asia’s biggest AI data center operators, the FT reports, around US$1.2 billion in contracts fo.........

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No longer moving with the broader market. Funds are pulling out—it might be time to short.$Alibaba(BABA.US)

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