Overview

• Hong Kong-listed shares surged about 19% and New York ADRs rose roughly 13% after the June-quarter report.
• AI-related product revenue logged an eighth straight quarter of triple‑digit growth, while Alibaba Cloud revenue climbed 26% year over year to 33.4 billion yuan.
• Net income rose about 78% from a year earlier, helped by investment gains and asset disposals, even as overall revenue grew 2% and operating profitability was pressured.
• Multiple outlets reported Alibaba is developing an inference-focused AI chip under its T‑Heat unit, a move seen as bolstering cloud services and reducing reliance on U.S. suppliers.
• The rally lifted broader gauges such as the Hang Seng and MSCI EM Index, and analysts raised targets, including BofA to $152, Mizuho to $159, Goldman Sachs to $163, and Benchmark to $195, while flagging quick commerce losses that management says are starting to scale.