Alibaba's AI surge triggers $50 bn rally

ALIBABA GROUP HOLDING Ltd.'s stock leapt more than 19% after reporting a surge in revenue from AI, underscoring the steady headway it's making against rivals in a post-DeepSeek Chinese development frenzy.

- WINNIE HSU AND LUZ DING

China's e-commerce leader posted a triple-digit percentage gain in AI-related product revenue as well as a better-than-anticipated 26% jump in sales from the cloud division—the business most closely tied to the artificial intelligence boom.

That helped assuage investors nervous about the fallout from a worsening battle with Meituan and JD.com Inc. in internet commerce. Alibaba's shares gained their most intraday since November 2022 in Hong Kong, boosting the company's market value by more than $50 billion.