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Asia

Market Chatter: Alibaba Said to Lead $300 Million Investment in UniPat AI

Alibaba Group (HKG:9988) is backing AI startup UniPat AI in a $300 million funding round that could value the startup at about $2.5 billion, Bloomberg reported Thursday, citing people familiar with the matter.The Chinese e-commerce giant is expected to lead the round, with Tencent Holdings (HKG:0700) and existing investor HSG also participating, according to the report. The financing is expected to close soon, although its terms could still change.UniPat, founded in late 2025, develops training data and benchmarks for evaluating AI models, including coding agents, browser agents and multimodal systems.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700HKG:9988
US Accuses DeepSeek, Alibaba of Industrial-Scale AI Data Theft
US Markets

US Accuses DeepSeek, Alibaba of Industrial-Scale AI Data Theft

The U.S. government accused Chinese artificial intelligence firms, including DeepSeek, Alibaba (HKG: 9988), and Moonshot AI, of systematically extracting proprietary models from US counterparts through "industrial-scale distillation campaigns."According to a joint advisory released Tuesday by the Cybersecurity and Infrastructure Security Agency, the National Security Agency, and the Federal Bureau of Investigation, major Chinese developers have used distillation to "shortcut" development costs and timelines.The Chinese tech firms did not immediately respond to' requests for comment.The advisory also targets MiniMax, StepFun, and Z.AI.The US government departments alleged that these companies have extracted "billions of tokens" from US frontier models including variants of Claude, GPT, Gemini and Grok since at least 2024."We strongly urge AI companies to take immediate steps to safeguard their platforms against knowledge distillation campaigns that threaten to close the gap in advancements made by American companies," CISA Acting Director Nick Andersen said.The announcement arrives as Washington and Beijing prepare to address artificial intelligence safety and governance frameworks in upcoming high-level talks later this month.

Shanghai Composite^SZSEHKG:9988
Asia

Chinese AI Companies Face US Tech Theft Accusations

Six Chinese artificial intelligence companies, DeepSeek, Moonshot AI, Alibaba (HKG:9988), MiniMax, StepFun and Z.AI-l, face accusations from the U.S. government of maliciously copying technology from American AI firms, according to a joint U.S. cybersecurity advisory released Tuesday.The accusations potentially complicate relations ahead of a planned meeting between U.S. and Chinese leaders later this month.The Cybersecurity and Infrastructure Security Agency, the National Security Agency and Federal Bureau of Investigation said the Chinese companies used outputs from American AI models to accelerate development, potentially with Chinese government awareness and on an industrial scale.Deepseek, Moonshot AI and Alibaba did not immediately respond to' request for comment.

Shanghai Composite^SZSEHKG:9988
Asia

Market Chatter: Alipay+ Link-Up with UPI Reportedly Faces Delay Amid India's Security Concerns

Alipay+'s proposal to integrate with India's instant payment system Unified Payments Interface (UPI) has hit a roadblock over national security concerns, Reuters reported citing three people with knowledge of the matter.The Indian government's concerns emerge from Alipay+'s links to China and revolve around how consumer data will be used and stored, with risks of money laundering, data breaches and cyberfraud taking center stage, Reuters said.India's foreign ministry said the proposal was paused on "political grounds," according to one of the sources familiar with the discussions.The link-up, which was proposed in January, aims to enable Indians traveling to China and Hong Kong among other parts of Asia to make real-time payments at Alipay+ merchants.In the long term, international travelers to India would also be able to use Alipay+, which is run by Alibaba's (HKG:9988) Ant International.Ant International, Reserve Bank of India, National Payments Corporation of India, and India's ministries of external affairs, finance, and home affairs did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^BSENifty 50HKG:9988
Asia

Alibaba Cloud Expands Into Brazil With First Cloud Region

Alibaba's (HKG:9988) cloud unit has launched its first cloud region in Brazil, expanding its local infrastructure, according to a social media post on Thursday.The new data centers will offer secure, resilient, and scalable cloud services with low latency and local data governance.Alibaba Cloud will also provide enterprise-grade agentic AI services, enabling businesses to build, deploy, and operate AI agents at scale.

HKG:9988
Asia

Alibaba Unveils Cost-Efficient Qwen3.8-Flash AI Model

Alibaba (HKG:9988) unveiled Qwen3.8-Flash, an open-weight multimodal AI model designed to deliver strong performance at a low cost, according to a Thursday statement.The model has 125 billion parameters, with 6 billion activated per token, and supports 262,000 tokens of context, extendable to 1 million.Alibaba said Qwen3.8-Flash costs 1 yuan per 1 million input tokens and 3 yuan per 1 million output tokens, while requiring about one-ninth the training resources of its larger Qwen3.7-Plus model.

HKG:9988
Asia

Alibaba Chairman Buys Additional HK$82 Million Company Shares

Alibaba (HKG:9988) Chairman Joseph Tsai purchased another 720,000 Hong Kong-listed shares of the company on Tuesday, according to a stock exchange disclosure.Tsai bought the shares at an average price of HK$113.47 each, for about HK$81.7 million.The purchase came a day after Tsai and Chief Executive Officer Eddie Wu bought about HK$120 million worth of Alibaba shares.Tsai purchased shares worth about HK$81 million, while Wu acquired shares valued at around HK$39 million, according to Hong Kong stock exchange disclosures.Their combined disclosed holdings represent 1.72% of Alibaba's issued voting shares. The purchases came after Alibaba sought to raise HK$80 billion in gross proceeds through a share sale.

HKG:9988
Asia

Market Chatter: Jack Ma Buys Over HK$600 Million in Alibaba Shares

Alibaba Group (HKG:9988) founder Jack Ma purchased over HK$600 million worth of the company's Hong Kong-listed shares in recent days, the South China Morning Post reported Tuesday, citing people familiar with the matter.Alibaba co-founder and Chairman Joseph Tsai and CEO Eddie Wu also invested HK$201.5 million collectively over the same period, according to data from the Hong Kong bourse.Tsai bought 1.4 million shares for roughly HK$162.4 million on Monday and Tuesday, while Wu bought 350,000 shares for HK$39.1 million on Monday.Alibaba did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:9988
Asia

Perennial International Unit Offloads Alibaba Shares

Perennial International (HKG:0725) unit Glitter Wire and Cable sold 40,000 shares in Alibaba (HKG:9988) on the open market for nearly HK$4.5 million.The shares, representing around 0.00021% of Alibaba's issued shares, were disposed of at HK$112.20 apiece, according to a Tuesday Hong Kong bourse filing.Proceeds from this and previous disposals will be used for investment funding for more secured investments, as well as for operations.

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Asia

Hong Kong Stocks Rise at Open as Tech Shares Rebound

Hong Kong stocks opened higher on Tuesday as technology shares recovered from the previous session's losses.The Hang Seng Index rose 0.5%, or 116.89 points, to open at 25,634.22, while the Hang Seng China Enterprises Index gained 0.3%, or 29.15 points, to 8,500.51.Alibaba's (HKG:9988) discounted share sale and investor caution ahead of Nvidia's quarterly results on Wednesday had added to pressure on the technology sector.Investors also await U.S. Federal Reserve Chair Kevin Warsh's speech at Jackson Hole later this week for clues on the interest-rate outlook.

Hang SengHKG:9988
Asia

Alibaba Chairman, CEO Buy HK$120 Million of Shares After Stock Offering

Alibaba's (HKG:9988) Chairman Joseph Tsai and Chief Executive Officer Eddie Wu bought about HK$120 million worth of the company's shares on Monday, according to Hong Kong stock exchange disclosures.Tsai purchased about HK$81 million worth of shares, while Wu acquired shares valued at around HK$39 million, the filings showed.Their combined disclosed holdings represent 1.72% of Alibaba's issued voting shares.The purchases came after Alibaba sought to raise HK$80 billion in gross proceeds through a share sale.

HKG:9988
Asia

Xpeng's Robotics Unit Raises $900 Million in Funding Round Backed by Tencent, Alibaba

XPeng's (HKG:9868) robotics business, Dogotix, agreed to issue new shares totalling $900 million to certain subscribers, according to a Monday filing with the Hong Kong Exchange.The funding round is led by IDG Capital, with participation from Tencent Holdings (HKG:0700) and Alibaba Group (HKG:9988) as strategic investors.The EV maker itself is contributing $200 million, while executive subscribers -- including CEO He Xiaopeng -- are investing $100 million and receiving warrants to purchase additional shares.The deal gives Dogotix an implied pre-transaction valuation of $5 billion and a post-transaction valuation of $6.3 billion, the filing said.

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Asia

Hong Kong Stocks Fall on Tech Weakness; Alibaba Slides on HK$80 Billion Share Sale

Hong Kong stocks closed lower Monday as investors turned cautious ahead of Nvidia's earnings and fresh U.S. sanctions on Iran.The Hang Seng Index fell 492.13 points, or 1.9%, to close at 25,517.33, while the Hang Seng China Enterprises Index lost 162.98 points, or 1.9%, to finish at 8,471.36.Technology shares came under pressure ahead of Nvidia's quarterly results as investors watched whether the chipmaker could meet elevated expectations for artificial intelligence demand and spending.Oil prices eased ahead of U.S. Treasury Secretary Scott Bessent's announcement on sanctions against Iran.Investors also looked ahead to U.S. inflation data and Federal Reserve Chair Kevin Warsh's speech at Jackson Hole later this week for clues on the central bank's interest rate path.In corporate news, Alibaba (HKG:9988) fell nearly 9% after launching an HK$80 billion share offering to fund its AI expansion.Meanwhile, Kingboard Laminates (HKG:1888) ended nearly 6% lower despite its first-half profit surging 209%.

Hang SengHKG:1888HKG:9988
Asia

Alibaba Group to Raise HK$80 Billion via Share Placement to Fund AI Expansion

Alibaba Group (HKG:9988) is seeking to raise HK$80 billion in gross proceeds from a share sale, with the online retail giant-turned-AI player offering 710 million new shares at HK$112.70 each.The HK$112.70 placing price represents a 3.6% discount to the referenced share price and a 9.0% discount to the five-day average closing price, with the deal expected to close on Aug. 26.Alibaba intends to use 100% of the net proceeds, estimated at approximately HK$79.7 billion, to expand and enhance its full-stack AI capabilities and infrastructure.The placing is being conducted under the company's existing general mandate, which authorizes the issuance of up to 10% of its share capital, and will not require further shareholder approval, with the new shares representing approximately 3.57% of the enlarged share capital.The company entered into a placing agreement on Aug. 23, with joint overall coordinators CICC, HSBC, Morgan Stanley and UBS for the share sale.

HKG:9988
Asia

Jefferies Adjusts Alibaba Group Holding's Price Target to HK$184 From HK$179, Keeps at Buy

Alibaba Group Holding (HKG:9988) has an average rating of buy and mean price target of HK$185.25, according to analysts polled by FactSet.

HKG:9988
International

South Korean Exports to China Rise 8.7% in H1

South Korea's consumer goods exports to China rose 8.7% year over year to $3.44 billion in the first half of the year, driven by higher shipments of apparel, food, and cosmetics.To sustain export momentum, the government plans to expand live-commerce marketing, pop-up stores, regional distribution channels beyond JD.com (HKG: 9618) and Alibaba (HKG: 9988), and inland logistics hubs in cities including Chengdu and Xi'an, the Ministry of Trade, Industry and Energy said in a Friday statement following a meeting with South Korean trade officials based in China.

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Asia

Alibaba Fiscal Q1 Attributable Net Income Down; Revenue Climbs

Alibaba (HKG:9988) reported 10.5 billion yuan in net income attributable to ordinary shareholders for the fiscal first-quarter, compared with 43.1 billion yuan a year ago.Non-GAAP EPS moved to 1.07 yuan from 1.84 yuan year over year, according to a Thursday statement.For the three months ended June 30, revenue was 269 billion yuan versus 247.7 billion yuan previously, the Hong Kong-listed tech giant added.

HKG:9988
Asia

StanChart, Citi, Deutsche Bank Adopt Ant International's Forex AI Tool

Alibaba's (HKG:9988) Ant International launched Falcon Time-Series Transformer Model 2.0 to improve foreign-exchange risk and liquidity forecasting for cross-border payments, according to a Thursday press release.The fintech company said the upgraded AI model has been adopted by Barclays, Citi, Deutsche Bank and Standard Chartered (HKG:2888) for FX hedging and liquidity management.Ant International said the technology could also be applied beyond financial services, including demand forecasting for e-commerce platforms and predictive operations management in aviation.The model is designed to handle financial data across different time frequencies and distinguish missing data from zero values, while learning patterns across sectors including finance, retail, energy and tourism, the company said.

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Asia

BOC Hong Kong, Alibaba's Ant International Join Hands for AI-Supported Financial Services

BOC Hong Kong (HKG:2388) is partnering with Alibaba's (HKG:9988) Ant International to explore AI-driven innovative financial services, according to a Thursday release posted with Business Wire.The parties will strategically cooperate in areas including treasury management and cross-border payments, liquidity management and financial services for global enterprises, and improved financial services for small and medium-sized enterprises.

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Unitree Surges 460% in Blockbuster Shanghai Debut as Investors Bet Heavily on Robotics
US Markets

Unitree Surges 460% in Blockbuster Shanghai Debut as Investors Bet Heavily on Robotics

Unitree Robotics' (SHA:688836) closed 460% higher at 845 yuan during its first trading day on the Shanghai Stock Exchange on Wednesday, driven by growing investor optimism surrounding the government's push for embodied intelligence.The robotics company opened at 1,100 yuan, representing a 629% jump from its initial public offering price of 150.80 yuan. The IPO raised 6.1 billion yuan.Unitree's stellar performance pushed its market capitalization to 341.8 billion yuan as of market close.The offering gathered tech and state-backed institutional participants, including AI startup DeepSeek and PetroChina (SHA:601857, HKG:0857) parent China National Petroleum Corp.Prior to the IPO, Meituan (HKG:3690), through its entities Hanhai Information Technology, Galaxy Z and Chengdu Dragon Pearl, held a 9.65% stake in the company, according to Unitree's IPO filings. Following the IPO, they collectively held a combined 8.7% stake now valued at 29.7 billion yuan.Other strategic investors include Tencent Holdings (HKG:0700) through Tencent Technology and Alibaba Group (HKG:9988) through affiliate Hangzhou Haoyue.Unitree's listing has established a "publicly available valuation benchmark from the A-share market for the first time," according to trade body China Mobile Robot Alliance (CMRA).Analysts at Nomura said Unitree could reach its potential due to its rapid product iteration and continuous innovation, putting the robotics company at pole position as demand emerges.In the first half of 2026, Unitree's revenue surged 48.5% to 1.15 billion yuan, while attributable net profit stood at 274 million yuan, reversing the 32 million yuan loss a year earlier."Unitree was previously best known for its quadruped robots, but judging from its revenue and shipment structure, the company is rapidly shifting towards humanoid robots," said CMRA.Under China's 15th Five-Year Plan, the government identifies embodied intelligence as a new economic growth point. Beijing has already set out an action plan for humanoid robots and embodied intelligence real-scenario training, according to Xinhua.

HKG:0700HKG:0857HKG:3690HKG:9988SHA:601857SHA:688836

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