Alibaba Jumps 4% as Zhenwu V900 Chip Targets the Gap NVIDIA Left in China; Baidu Sits Tight

AMD's market value hit $1 trillion, with shares rising 9.6% to $613.31, driven by AI optimism. Intel, Arm, and the Philadelphia Semiconductor Index also climbed. AMD's growth is part of a broader AI infrastructure cycle beyond Nvidia. South Korean semiconductor exports surged 259% year over year, indicating strong demand.

AMD's market cap surpassed $1 trillion for the first time, driven by a 10% surge in shares to $615.52. The company's data center revenue doubled year-over-year to $6.7 billion, with CEO Lisa Su calling it an 'excellent quarter.' AMD is the fourth U.S. semiconductor firm to reach this milestone, following NVIDIA, Broadcom, and Micron.

Alibaba's Hong Kong shares rose 5.1% to a one-month high after its chip unit T-Head launched the Zhenwu V900 AI processor, offering three times the performance of its predecessor. The company also announced plans for next-gen AI models, including Qwen 4, and aims to expand its global data center capacity to 20GW by 2032, according to CEO Eddie Wu.

Alibaba (BABA) unveiled its new AI chip, Zhenwu V900, claiming it's three times more powerful than its predecessor. The company plans to expand its data center capacity to 20 gigawatts by 2032. Shares rose 2.1% on Tuesday. Alibaba also announced plans for future AI models with up to 10 trillion parameters, aiming to meet rising demand. The Zhenwu V900 is set for commercial release in Q1 2027.

Alibaba Group (BABA) stock rose 3.93% on September 22, 2026, driven by positive China consumer demand and e-commerce outlook. The company reported revenue of ¥996.3B, with a P/S ratio of 1.8 and P/E of 17. BABA raised $10.2B via a Hong Kong share placement, allocating funds to AI and cloud infrastructure. Analysts have mixed price targets, ranging from $165 to $190, citing growth potential and margin pressures. Insider buying by Jack Ma and CEO Yongming Wu has been noted.

Apple's new Mac Minis and Mac Studios, priced up to $20,000, aim to compete with Nvidia and Microsoft in AI tasks. Apple claims its devices handle AI locally, reducing cloud costs. Apple has 4.6% of the enterprise desktop market vs. Windows' 91.3%. Microsoft and Nvidia are also targeting AI desktop markets. Apple's hardware chief highlights cost savings and performance.