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Benzinga

Business

Anusuya Lahiri

YOU WONT BELIEVE: Alibaba and smic power beijing s bid to end reliance on nvidia and asml - What They Never Told You

BABA Alibaba SMIC ASML Nvidia Beijing China Unicom FT China Artificial Intelligence

Alibaba Group Holding Limited

Alibaba Group Holding Ltd. (NYSE:BABA) shares advanced in premarket trading Wednesday after reports that the company secured China Unicom as a major client for its artificial intelligence chips.

The move underscores Beijing’s push to build domestic alternatives as U.S. export restrictions cut off access to Nvidia Corp.’s (NASDAQ:NVDA) most advanced accelerators.

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