Alibaba Shares Soar 15%, Driven by AI Revenue Surge

Alibaba shares experienced a remarkable surge on Monday, jumping over 15% as investors reacted enthusiastically to the company’s explosive growth in artificial intelligence revenue. This marked their biggest single-day gain since early 2023, fueled by record sales from AI products and rapid expansion of its cloud services division. Alibaba’s cloud business saw a 26% increase, reaching 33.4 billion yuan ($4.7 billion), significantly exceeding analyst expectations.