Alibaba's Hong Kong shares rally 19% as AI boom fuels cloud business growth

6 days ago 1
Alibaba company logo on office building

Robert Way

Alibaba's (NYSE:BABA) Hong Kong-listed shares soared almost 19% on Monday as the ongoing artificial intelligence (AI) boom powered strong growth in its cloud computing division amid growing competition in the global AI and cloud services market.

Revenue was up 2% year-over-year

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