Alibaba's chip unit T-Head to list in Hong Kong, HK exchange confirms

Alibaba's semiconductor business T-Head received Hong Kong Stock Exchange confirmation to proceed with an IPO. The listing still requires Chinese securities regulators' approval. Nomura estimates T-Head could be valued at $85 billion. Alibaba has committed over $53 billion to AI over three years. T-Head will remain a subsidiary post-listing. The move is part of Alibaba's strategy to compete in AI chips against Nvidia, Huawei, and Baidu.