BABA is trading at $138.57 (+4.77%) following reports that the company is participating in a massive $45 billion funding round for AI firm DeepSeek.
- The investment is reportedly led by China's state-backed chip fund, signaling a significant strategic push into domestic high-end AI development.
- Shares are significantly outperforming the broader market, with pre-market gains reaching 5.1% to $139.03 as investors react to Alibaba's AI growth prospects.
- The news is lifting overall sentiment across the Chinese technology sector, which is outpacing the Nasdaq's 0.85% gain from the previous session.