BABA is trading at $135.84 (+3.14%) as its logistics arm, Cainiao, backs Zelos Technology’s ~$600M Hong Kong IPO for autonomous delivery trucks.
- The gain aligns with a broader tech-led rally that saw the NASDAQ rise 1.35%, fueled by a 25% surge in Intel.
- Market sentiment has improved following a recovery from Middle East tensions and a ceasefire extension.