Alibaba (BABA) is laying the groundwork for a potential listing of its chipmaking division, seeking to capitalize on strong investor interest in the limited group of companies aiming to challenge Nvidia (NVDA) in the market for AI accelerators, Yuan Gao and Debby Wu of Bloomberg reported, citing people familiar with the matter. As an initial step, the company plans to restructure the unit so that it is partially owned by employees. Following the restructuring, Alibaba reportedly intends to explore an initial public offering, though the timing has not been determined. Alibaba’s shares rose more than 5% in U.S. premarket trading.
Claim 30% Off TipRanks
Forget margin or options. Here's how the pros trade NVDAPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BABA:
- Alibaba (BABA) Partners with This Nuclear Power Firm to Support AI Growth
- Meta Stock Gains on Report Its AI Bet Is Finally Producing Promising Models
- Alibaba upgraded to Buy from Neutral at Arete
- ‘AI War Heats Up’: Alibaba Stock (BABA) Slips as ByteDance Ramps Up AI Cloud Push
- Baidu’s (BIDU) Ernie AI Assistant Tops 200M Users as China’s AI Race Heats Up