🟢 BABA is trading 4.6% up today on launch of high-performance 5nm AI chip

BABA is trading at $131.29 (+4.6%) in pre-market after launching the XuanTie C950, a 5nm AI chip for data centers that is over 3x faster than its predecessor.

• Morgan Stanley raised its price target to $180 following the major AI hardware debut.
• Positive market sentiment from Mideast ceasefire hopes adds tailwinds, with NASDAQ futures up 0.8%.
• The stock is significantly outperforming its prior close of $125.48 as AI-driven momentum builds.