Alibaba Stock Breaks Past 52-Week High As AI Frenzy Heats Up
Alibaba Group (NYSE:BABA) stock closed approximately 5% higher on Monday, a surge driven by growing investor confidence in the company’s aggressive push into cloud computing and artificial intelligence.This rally positioned Alibaba as the best-performing Chinese tech stock in September, according to a Bloomberg report.The stock’s year-to-date gain of over 112% has significantly outpaced the NYSE Composite index’s 13% returns, a performance attributed to its escalating AI endeavors. The stock is currently tr ...