Alibaba shares rise after it lands major customer for its AI chips

Alibaba shares rise after it lands major customer for its AI chips

The Alibaba office building in Nanjing, Jiangsu province, China, on Aug. 28, 2024. CFOTO | Future Publishing | Getty Images Alibaba shares rose on Wednesday after Chinese state media reported that the e-commerce giant secured a major customer for its artificial intelligence chips. China Unicom will deploy Alibaba’s AI accelerators from its semiconductor unit called…

Read More
Stoxx 600, FTSE, DAX, Fed decision

Stoxx 600, FTSE, DAX, Fed decision

A screen displays a press conference by U.S. Federal Reserve Chair Jerome Powell following the Fed rate announcement, on the floor of the NYSE in New York, U.S., July 30, 2025. Jeenah Moon | Reuters LONDON — European stocks opened mostly higher as markets awaited the latest monetary policy decision by the U.S. Federal Reserve, which is expected to lower…

Read More
China’s trade shifts away from U.S., even in Yiwu

China’s trade shifts away from U.S., even in Yiwu

This report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. The big story Three young boys eating lollipops joined me on the elevator inside the five-story Yiwu “International Trade Market,” which ships the majority of the world’s Christmas decorations. The kids ran out before…

Read More