Alibaba Group shares are trading higher amid reports of the Chinese tech supervisor's pledge to support AI computing push while US chipmaker executives push government for a softer China policy.
Portfolio Pulse from Benzinga Newsdesk
Alibaba Group's shares are trading higher following reports of the Chinese tech supervisor's commitment to support AI computing. This comes as US chipmaker executives are urging the government for a more lenient China policy.
July 19, 2023 | 9:13 am
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Alibaba's stock is trading higher due to the Chinese tech supervisor's support for AI computing and US chipmakers' push for a softer China policy.
The news directly impacts Alibaba as it mentions the company's shares trading higher. The Chinese tech supervisor's support for AI computing, which Alibaba is heavily invested in, and the push by US chipmakers for a softer China policy, which could potentially ease trade tensions and benefit Alibaba, are both positive developments for the company.
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IMPORTANCE 80
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