Alibaba shares surge to highest since 2021 on AI, cloud push as analysts flag strong growth

Core Insights - Alibaba shares experienced a significant rally following the announcement of new initiatives aimed at enhancing its artificial intelligence and cloud capabilities, which has bolstered investor confidence in the company [1] Company Initiatives - The company unveiled a series of initiatives focused on expanding its artificial intelligence and cloud services, indicating a strategic shift towards technology enhancement [1] Investor Sentiment - The positive market reaction, reflected in the rally of Alibaba shares, suggests that investors are optimistic about the company's future growth prospects in the technology sector [1]