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Alibaba Nuclear Power Deal
Description
Alibaba formed a $35.9 million nuclear power joint venture in China with China National Nuclear Power and other partners to secure long-term electricity supply for its growing AI data center footprint. The move mirrors similar actions by U.S. tech companies as grid constraints tighten and power demand from AI accelerates. Alibaba continues expanding its AI ecosystem through open-source development, with its Qwen models surpassing 700 million downloads. Chairman Joe Tsai said the company focuses on using AI to drive cloud infrastructure demand rather than direct model monetization. Alibaba shares rose 3.21% in premarket trading.
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