Alibaba Stock Pops as Company Plans Chip Unit Listing

Alibaba Group Holding Ltd (NYSE:BABA) is edging closer to listing its chip unit, T-head, leaning into strong investor demand for companies aiming to challenge Nvidia (NVDA) in the AI accelerator space. The first move would restructure its the unit with partial employee ownership, ahead of an initial public offering. At last look, BABA was up 4% to trade at $176.66. The stock recently cleared the $155 region, a level that capped gains for roughly a month, after breaking above pressure at the 100-day moving a ...