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00:02Alibaba shares surged nearly 12% in pre-market trading Wednesday
00:06as improving earnings expectations, AI optimism, and company developments
00:11lifted investor sentiment, according to Bloomberg.
00:13The rally followed reports that Alibaba gave analysts a positive business update ahead of
00:18earnings, with narrower instant commerce losses and stable profitability in the June quarter.
00:24Jeffrey's analyst Thomas Chong said,
00:26much of the stock's pessimism is already reflected in its price
00:30and expects solid June quarter execution.
00:33He also expects faster AliCloud growth, supported by AI demand.
00:38Alibaba also told employees to stop using anthropic AI products
00:41and use its in-house assistant Kyoder instead.
00:44Separately, a federal judge temporarily blocked the Pentagon from treating Alibaba
00:48as a military-linked company under a lobbying ban while the court reviews the case.
00:53Alibaba's next earnings report is expected on August 28, 2026.
00:58For all things money, visit Benzinga.com.
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