Alibaba's AI and EV Ambitions: Nvidia Partnership Boosts Stock and Autonomous Driving Efforts

Alibaba Partners With Nvidia To Advance AI, Autonomous Driving, Chart Indicates Positive Momentum - Alibaba Gr Hldgs (NYSE:BABA), NVIDIA (NASDAQ:NVDA), Alibaba Gr Hldgs (OTC:BABAF)

PBoC's rate cuts fuel optimism as Alibaba gears up for ambitious automotive innovations just ahead of the National Day Holiday. Alibaba Group Holdings Ltd. BABA BABAF is revving up its engines, courtesy of a new partnership with Nvidia Corp NVDA that promises to take autonomous driving to the next level. By integrating Alibaba's Qwen large language models (LLMs) with Nvidia's Drive AGX Orin platform, this collaboration not only enhances in-car AI capabilities but also showcases Alibaba's strategic maneuvering amid U.S. sanctions on advanced semiconductor chips. In a display of synergy, Alibaba Cloud's partnership with Nvidia aims to enhance the driving experience for smart vehicle owners, equipping cars with intelligent voice assistants capable of executing commands and offering recommendations. This move positions Alibaba at the forefront of automotive AI technology, ensuring it remains competitive in a rapidly evolving market. Read Also: Alibaba Teams Up With Nvidia to Supercharge EVs for Chinese Automakers: Report Driving Up Investor Confidence: PBoC's Boost Fuels Alibaba This tech alliance comes at a fortuitous time as the People's Bank of China (PBoC) recently slashed key interest rates, flooding the banking system with liquidity and sparking a rally in Chinese stocks. With the National Day Holiday approaching, investor confidence is rising -- making it the perfect backdrop for Alibaba's ambitious automotive aspirations. Charting The Course: Buckle Up For Bullish Trends Alibaba's stock is cruising at about $95, a solid 5.45% increase at the time of publication Tuesday. Chart created using Benzinga Pro The stock has increased 20.51% year-to-date and 3.29% over the past year, signaling a robust performance in a volatile market. From a technical standpoint, the charts are painting a picture of bullish momentum. Alibaba stock is currently above its five, 20 and 50-day exponential moving averages, indicating a strongly bullish trend despite experiencing slight selling pressure. Here's the breakdown: Eight-Day SMA: $87.41 (Bullish signal) 20-Day SMA: $84.43 (Bullish signal) 50-Day SMA: $81.26 (Bullish signal) 200-Day SMA: $76.52 (Bullish signal) Chart created using Benzinga Pro The Moving Average Convergence Divergence (MACD) currently sits at 1.98, indicating a bullish trend for Alibaba stock. However, caution is advised as the Relative Strength Index (RSI) reads 69.13, indicating that the stock is about to enter the overbought territory. The Bollinger Bands also favor a bullish stance, with the stock trading above the upper bullish range. Full Speed Ahead: Signs Point To Opportunity In BABA Alibaba's strategic partnership with Nvidia has set the stage for exciting developments in the autonomous driving sector, while the technical indicators suggest a bright future for Alibaba stock. As the company prepares for an AI-enhanced driving experience, investors should stay focused on the potential ahead -- this journey is just beginning. Read Next: Alibaba Shares Are Trading Higher: What's Going On Photo: Shutterstock Market News and Data brought to you by Benzinga APIs

Alibaba Shares Are Trading Higher: What's Going On - Alibaba Gr Hldgs (NYSE:BABA), NVIDIA (NASDAQ:NVDA)

Alibaba's shares rose following the People's Bank of China's surprise interest rate cuts. Alibaba Group Holding Limited BABA shares are trading higher Monday. Here's what you need to know. What to Know: Alibaba's cloud computing unit partnered with Nvidia Inc. NVDA to enhance autonomous driving for Chinese EV makers, including Li Auto, Great Wall Motor and ZEEKR. This partnership integrates Alibaba's Qwen large language models (LLMs) with Nvidia's Drive AGX Orin platform, improving in-car AI capabilities. This move may be seen as strategic, especially as China grapples with U.S. sanctions restricting access to advanced semiconductor chips, which impact both Nvidia and Alibaba. Market Context: The People's Bank of China (PBoC) recently slashed key interest rates and injected liquidity into the banking system, boosting investor confidence and contributing to a broader rally in Chinese stocks. The rate cuts are part of efforts to stimulate China's economy ahead of its National Day Holiday. BABA Price Action: BABA is trading at $90.05, reflecting a 1.99% gain according to Benzinga Pro. See Also: Mullen Automotive's Bollinger Motors Powers Up: First Customer-Ready B4 Electric Truck Rolls Off The Line In Michigan Photo courtesy: Alibaba INC. Market News and Data brought to you by Benzinga APIs

Alibaba Teams Up With Nvidia to Supercharge EVs for Chinese Automakers: Report - Alibaba Gr Hldgs (NYSE:BABA), NVIDIA (NASDAQ:NVDA)

U.S. chip sanctions impact Alibaba's AI ambitions, Nvidia chips key to autonomous driving solutions in China. Alibaba Group Holding's BABA cloud computing services unit tapped Nvidia Corp NVDA to boost the autonomous driving experience for Chinese smart vehicle owners like Li Auto Inc LI, Great Wall Motor Co GWLLY, Geely Auto's ZEEKR Intelligent Technology Holding ZK and the EV unit of Xiaomi Corp XIACY. China is currently grappling with U.S. advanced semiconductor sanctions, which have restricted its access to Nvidia and other chipmakers' sophisticated artificial intelligence chips. The U.S. chip companies opposed the U.S. move, citing the importance of China as a key semiconductor market. Alibaba has also voiced how the embargo has affected its AI endeavors. Also Read: China's YMTC Makes Strides in Chip Production; Substitutes ASML, Lam Research Tech As US Sanctions Bite: Report Alibaba Cloud showcased a large multimodal model (LMM) solution for automotive applications that it co-developed with its intelligent cockpit solution provider Banma Network Technology and Nvidia at the Apsara Conference, SCMP reports. Alibaba Cloud integrated Qwen's portfolio of proprietary large language models (LLMs) with Nvidia's Drive AGX Orin platform for autonomous vehicles. The new LMM solution will enable in-car voice assistants to offer recommendations, and execute voice commands SCMP cites Alibaba Cloud. Nvidia and Alibaba Cloud look to Qwen LLMs to Nvidia's Drive Thor, a centralized car computing platform. Last week, Alibaba kicked off its Aspara Conference 2024, showcasing 100 open-source AI models catering to applications and sectors ranging from automobiles to gaming and science research. Chinese e-commerce juggernaut Alibaba Group Holding's stock has risen over 1% in the last 12 months as the weak domestic economy and geopolitical tensions bite. Investors can gain exposure to the stock through the Invesco Golden Dragon China ETF PGJ and the Trust for Professional Managers ActivePassive International Equity ETF APIE. Price Actions: BABA stock is up 0.85% at $89.04 premarket at last check Monday. Also Read: Alibaba Strikes 5-Year Cloud Deal with Indonesia's GoTo, Delays Stake Divestment Photo by Fooksou Lamimo via Wikimedia Commons Market News and Data brought to you by Benzinga APIs

What's Going On With Chinese Stocks Alibaba, NIO, XPeng, Li Auto On Tuesday? - Alibaba Gr Hldgs (NYSE:BABA), XPeng (NYSE:XPEV)

Chinese tech and EV stocks, including Baidu and NIO, gained in premarket Chinese tech industry barometer Alibaba Group Holding BABA stock gained on Tuesday after China's central bank announced plans to slash banks' reserve requirement ratio (RRR) by 50 basis points or half a percentage point. The central bank will also cut the seven-day reverse repurchase rate to 1.5% from 1.7%. Alibaba rivals Baidu, Inc BIDU, PDD Holdings Inc PDD, and JD.com, Inc JD also noted an upward movement in their stock prices in Tuesday premarket trading. Battered Chinese electric vehicle stocks, including NIO Inc. NIO, XPeng Inc. XPEV, Li Auto Inc. LI, and ZEEKR Intelligent Technology Holding ZK, were also up on Tuesday premarket. Also Read: Alibaba Teams Up With Nvidia to Supercharge EVs for Chinese Automakers: Report The Chinese companies have been battling the double whammy of a weak domestic economy and geopolitical tensions with the U.S., impairing their artificial intelligence technology ambitions. Alibaba and its peers struggled with intense domestic price wars in their e-commerce and cloud businesses as the U.S. restricted their access to sophisticated AI chips, restricting their growth momentum. AI technology has been pivotal in upgrading hyperscaler businesses, including e-commerce, logistics, electric vehicles, and more. Last week, the stocks got a boost from the U.S. Fed rate cut. The U.S. Fed slashed the lending rate by 50 bps, lowering the central bank's benchmark rate to 4.75%-5% to spur demand. Analysts expect the cut to drive growth in discretionary spending from U.S. companies. Investors can gain exposure to Chinese stocks through iShares China Large-Cap ETF FXI and KraneShares Trust KraneShares CSI China Internet ETF KWEB. Price Actions: At the last check on Tuesday, BABA stock was up 6.25% at $95.72 premarket. PDD was up 5.32% at $107.71, JD was up 8.53% at $32.30, BIDU was up 5.12% at $92.80, NIO was up 8.08%, XPEV was up 7.85%, LI was up 8.96%, and ZK was up 6.74%. Also Read: Chinese Stocks Defy Biden's Auto Import Ban Concerns, Rally To 4-Month Highs As Central Bank Unexpectedly Slashes Interest Rates Photo by Eric Prouzet on Unsplash Market News and Data brought to you by Benzinga APIs