美股IPO·2025-08-31 01:54Core Insights - Nvidia faces ongoing sales challenges in China, while Alibaba has developed a new versatile chip designed for a broader range of AI inference tasks [1][3] Group 1: Chip Development - Alibaba's new chip is currently in the testing phase and is being produced by a Chinese company, differing from its previous collaboration with TSMC for AI processors [3] - The new chip is specifically designed for inference tasks, which typically do not require the most advanced chips, as demand for inference computing is rapidly increasing in China [3] Group 2: Market Context - There remains a significant gap before Chinese products can compete with the most advanced American chips, compounded by U.S. export controls on cutting-edge manufacturing equipment [3] - Despite these challenges, Chinese companies are actively developing alternatives to Nvidia's H20 chip, which is a lower-spec version tailored for the Chinese market [3] Group 3: Financial Performance - Alibaba's cloud computing revenue for the period from April to June increased by 26% year-on-year, driven by strong AI demand, exceeding market expectations [4] - Alibaba's CEO emphasized the company's commitment to investing in consumer and AI + cloud strategies to seize historical opportunities for long-term growth [4]