KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
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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