Alibababa shares jumps 19% on the growth of clouds

AlibabaOn Monday, the stock in Hong Kong listed more than 19%, when the cloud block of the Chinese technological giant led to strong quarterly results, while the details appeared compared to the new AI chips.

This is the highest level for stocks since March. Investors supported the company’s productivity in their key clouding unit and is satisfied “Instant trade”, “” which has become incredibly competitive in China.

Hong Kong action relies on impetus AlibabaThe report on the income on Friday, when the company’s shares listed in New York closed almost 13% higher.

Alibaba last week posted income For June 247.65 billion Chinese yuan ($ 34.73), which marks 2% compared to the year, which nevertheless missed the expectations of analysts. Up, 78% of the annual net income growth occurred ahead of the forecasts.

The cloud computing block of the Chinese company became a bright place, and the profit gained 26%, which was faster growth than observed in the previous quarter. Over the last few quarters, Alibaba’s cloud growth has accelerated.

Like some of their Chinese and American technological rivals, Alibaba puts funds in the AI ​​infrastructure and develops its own models, and sells AI services for its cloud computing. Investors see the division as a key for the efforts of the artificial intelligence company, as well as Microsoft or Google.

The AI ​​products “maintained triple growth for the eighth in a row,” the company said on Friday.

The same day CNBC reported it Alibaba is developing a new chip IIWhich also supported the stock on Monday.

The main business of Alibaba e -commerce, meanwhile, demonstrates signs of revival, while the company has jumped in Chinese instant trading in China. This is a feature presented this year in Taobao, one of the main Chinese e -commerce applications for Alibaba, which provides supplies of certain products in China for an hour.

Investments in quick commerce weighed on alibaba’s adjusted profit for their e -commerce business. Investors gave companies some free time to invest.