Alibaba fell more than 4%, dragging down the Hang Seng Technology Index. Tencent Holdings, Smart Spectrum, and MINIMAX-W declined simultaneously. Earlier, Alibaba CEO Wu Yongming said that it will fully invest in AI infrastructure construction, aiming to exceed 20GW of global data centers operated by Alibaba Cloud by 2032.

Alibaba fell more than 4%, dragging down the Hang Seng Technology Index. Tencent Holdings, Smart Spectrum, and MINIMAX-W declined simultaneously. Earlier, Alibaba CEO Wu Yongming said that it will fully invest in AI infrastructure construction, aiming to exceed 20GW of global data centers operated by Alibaba Cloud by 2032.