KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
Alibaba Group Holding Ltd is preparing to spin off and potentially list its AI chipmaking unit T-Head, tapping into rising investor appetite for companies seen as local alternatives to Nvidia Corp in the fast-growing AI accelerator market.
According to people familiar with the matter, Alibaba plans to first restructure T-Head into a partially employee-owned business, before exploring an initial public offering. While the timing and valuation remain unclear, interest in Chinese chipmakers has surged amid Beijing’s push to reduce reliance on US technology.
The move comes as Alibaba steps up its ambition to become a leading AI powerhouse, investing heavily in infrastructure, chips and consumer-facing AI services. CEO Eddie Wu has pledged more than US$53 billion toward AI and infrastructure, with room to scale further.
Why T-Head Matters
T-Head plays a strategic role in Alibaba’s ecosystem, supplying chips that support its cloud computing and AI ambitions, similar to how Nvidia powers leading global AI models. With US export restrictions limiting access to advanced Nvidia chips in China, domestic alternatives are increasingly critical.
Recent progress includes a deal with China’s No. 2 telecom operator to deploy T-Head’s Pingtouge AI accelerators at a major data center, alongside rival chips from MetaX and Biren Technology. This signals growing commercial traction.
Quick Summary
Alibaba is preparing a potential IPO of its AI chip unit T-Head
First step involves restructuring with partial employee ownership
T-Head targets the AI accelerator market dominated by Nvidia
The plan aligns with Alibaba’s US$53bn+ AI and infrastructure push
Strong policy support in China could boost investor interest
Alibaba is positioning T-Head as a strategic AI chip champion, with an IPO potentially unlocking value and strengthening China’s push for tech self-sufficiency.
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