BABA is trading at $153.35 (+4.6%), fueled by investor optimism in Chinese tech amid AI innovation and a bullish Nomura note regarding the scaling of Alibaba's Qwen AI models.
- Shares gained in sympathy with Baidu's AI chip unit spin-off plans.
- Analysts highlight 34% YoY cloud revenue growth.
- Valuation is considered cheap, with analysts projecting 25-40% upside potential by 2026 from AI catalysts.