Alibaba is one of China's largest tech and artificial intelligence companies. Its cloud business has been performing well, driven by new AI products. Alibaba has also launched quick-service delivery.

Wall Street analysts hiked their price targets on Alibaba shares today. Last week, Alibaba held its cloud computing conference, increasing its three-year spending target on signs of high demand.

Alibaba announced plans to open data centers around the world. It's also teaming with Nvidia. The stock has surged lately on hopes for its AI ambitions. Alibaba announced several initiatives around AI ...