Alibaba's shares in Hong Kong rose over 19% following strong quarterly results driven by its cloud computing unit and developments in AI chip technology. The company's revenue reached 247.65 billion yuan, with a notable 26% growth in cloud revenue, while its core e-commerce business showed signs of recovery despite investments in competitive instant commerce services.
alibaba ✓
cloud-computing ✓
ai ✓
+ e-commerce
instant-commerce ✓