Alibaba ADR rose 5.1% amid rumors of a decision to support the independent listing of its chip company
Alibaba (BABA.US)(09988.HK) American depositary shares rose 5.1% to $177.18.
According to domestic media reports, Alibaba has decided to support its chip company Tmall Genie for future independent listing, although the specific timing is still unclear. Tmall Genie is a semiconductor chip company established by Alibaba in 2018, integrated from the acquired Zhongtian Micro Systems and Alibaba DAMO Academy's internal chip team, focusing on AI chips and RISC-V ecosystem technology
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