2 1 Shi Ji Jing Ji Bao Dao·2025-09-24 07:34Market Performance - A-shares continued to strengthen on September 24, with the ChiNext Index rising by 2.28%, the Shanghai Composite Index by 0.83%, and the Shenzhen Component Index by 1.80% [2][3] - Nearly 4,457 stocks in the market saw an increase, with significant gains in sectors such as storage chips, photolithography machines, and energy metals [2][3] Alibaba's AI Developments - Alibaba's stock surged nearly 8% on September 24, reaching HKD 173.5 per share, marking a new high since October 2021, with a total market capitalization of HKD 3.3 trillion [5] - At the 2025 Cloud Habitat Conference, Alibaba announced a major upgrade to its AI infrastructure, aiming to become a full-stack AI service provider [5][6] - The flagship model Qwen3-Max was introduced, outperforming competitors like GPT-5 and Claude Opus 4, with a pre-training data volume of 36 trillion tokens and over one trillion parameters [6] Investment and Market Impact - International capital has recognized Alibaba's advancements in AI, with notable investor Cathie Wood purchasing approximately USD 1.63 million worth of Alibaba shares [7] - The AI developments at Alibaba have positively influenced the A-share semiconductor equipment sector, with stocks like Changchuan Technology and Jingyi Equipment seeing significant gains [7] - Analysts suggest that Alibaba's "cloud + AI" strategy will serve as a second growth curve, enhancing its competitive edge and potentially increasing the revenue share from AI-related businesses [7][8] Industry Outlook - Citic Securities remains optimistic about Alibaba's full-stack AI layout and the investment trends among domestic internet giants, highlighting the importance of AI applications in various sectors [8]