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đđ€ Alibaba shares skyrocketed nearly 10% on Wednesday, hitting a four-year high as the Chinese tech powerhouse announced it would boost its artificial intelligence (AI) spending beyond the earlier $53 billion commitment over three years â a game-changer move in the global AI race!
đđč Meanwhile, Marvell Technology shook Wall Street with a massive $5 billion stock buyback program, sending its shares up over 3%! đđ„Alibabaâs incoming CEO Eddie Wu revealed the companyâs AI budget would surpass 380 billion yuan (approx. $53 billion), with plans to expand AI infrastructure and launch data centers in Brazil, France, and the Netherlands â powering an aggressive global AI expansion. The firm also unveiled its largest AI language model yet, Qwen3-Max, boasting over 1 trillion parameters and superior autonomous agent capabilities â signaling Alibaba's unmatched dominance in AI innovation.
đ§ đĄOn the flip side, Marvell reasserted confidence with a $5 billion accelerated share repurchase (ASR) program, leveraging its strong balance sheet to boost shareholder value amid soaring demand for AI infrastructure chips. The semiconductor giantâs data center business now accounts for 74% of revenue, growing 69% year-over-year â clearly the go-to chip provider fueling AIâs semiconductor backbone! đœ
âĄThese announcements reignited Wall Streetâs AI frenzy, echoing the massive investment wave led by Nvidia and others. Alibaba's stock surge also breathed new life into Chinese tech markets, while Marvellâs buyback bolstered investor confidence in AI tech sector growth. This duel underscores the fierce race for AI leadership with trillions of dollars at stake globally. đ„đStay tuned with Crypto Beast Malik for the latest in crypto, AI, and market movements pushing the worldâs biggest tech stocks to new heights! đđ