🟢 Alibaba is trading 4.65% up today driven by T-Head AI chip unit IPO plans

BABA is trading at $176.51, up 4.65%, after Bloomberg reported the company plans to spin off and take its AI chipmaking unit T-Head public.

• Alibaba will first restructure T-Head as a standalone business with partial employee ownership before pursuing an IPO, though timing and valuation remain unclear.
• The move reflects China's broader push to develop domestic AI chip capabilities amid U.S. export controls on advanced semiconductors.
• Analysts at Arete upgraded Alibaba to 'Buy' with a $190 price target, implying a modest 13% upside.