Alibaba Surges 107% After Boosting AI Budget Beyond $50 Billion And Reporting Strong Cloud Growth
Alibaba Group (NYSE: BABA) stock climbed to its highest level in nearly four years after the company announced it would increase artificial intelligence spending beyond its previously disclosed $50 billion-plus target. The stock is trading lower on Thursday, but it is still up 107% year-to-date, surpassing the NYSE Composite index…
Benzinga ·