US Exceptionalism Over? Alibaba Soars On AI As US-China Tech Valuation Gap "Must Narrow"

Hong Kong stocks surged overnight after Alibaba reported a staggering 239% year-over-year jump in net profit for the final quarter of 2024. CEO Eddie Wu credited the strong performance to explosive growth in the company's cloud business and a surge in artificial intelligence investments over the last six quarters.

Goldman's Fred Yin and Shubham Ghosh provided clients this morning with further insights on Alibaba and the apparent fading of US exceptionalism