Alibaba’s Expanded AI Pledge Ignites Tech Stock Rally, US Futures Climb
Alibaba’s Expanded AI Pledge Ignites Tech Stock Rally, US Futures Climb US stock futures are trending upwards, signaling a strong start to trading as investor confidence in artificial intelligence (AI) receives a significant boost. The rally is primarily fueled by Alibaba Group Holding Ltd.’s commitment to substantially increase its AI spending, surpassing an initial $50 billion target. This development saw Alibaba’s stock jump 9% in Hong Kong, even amidst recent typhoon impacts. Nasdaq 100 futures have risen 0.2%, bouncing back…