Lyon: China's support for data center construction led to a pullback in Alibaba's share price, but management is determined to capture a larger share of the AI market.

The bank believes that large enterprises typically face more challenging organizational structures and cultures when entering new fields, yet they also possess substantial capital and resource advantages.

Zhitong FinanceJun 12 15:02

How Other Mega IPOs Traded on Day One -- WSJ

WSJ36minutes ago

Alibaba on Pace for Lowest Close Since July 2025 -- Data Talk

Dow JonesJun 12 22:43

Internet giants have raised nearly RMB 100 billion in offshore bond financing over the past year to fund their massive AI expenditures.

① On June 11, Tencent announced the successful issuance of RMB 15 billion in dim sum bonds with maturities of 10 to 30 years, marking the largest single dim sum bond offering this year. ② Bonds issued overseas by internet giants typically feature longer tenors, generally ranging from 5 to 10 years, better aligning with the investment and payback cycles in the AI sector.

cls.cnJun 12 20:11

Bernstein: China's large models will become the 'best value proposition' in the global market

Bernstein believes that Chinese AI labs are capturing the consumer, SME, and emerging markets segments thanks to a significant cost advantage. Even without entering the U.S. market, Chinese models could still cover approximately 35%–40% of the global AI market (USD 320–350 billion). As AI becomes increasingly cost-sensitive, Chinese models—being 'good enough and cheaper'—are poised to become the biggest beneficiaries.

wallstreetcnJun 12 21:23

Zhitoong HK Connect Active Trading | June 12

Stock Connect Active Trading | June 12, 2026

Zhitong FinanceJun 12 19:00