Stocks to Watch: Alibaba Group Holding Limited [NYSE: BABA] released its first core processor IP, as the tech giant continues to record its significant growth in advanced technologies. The release likewise comes as the Chinese government urges the tech giant to enhance its effectiveness in the chip sector which fall behind that of US and China. Alibaba’s chip unit Pingtouge had released the Xuantie 910 core RISC-V processor. BABA has announced that the processor will be integrated into high-performance end to end 5G chips, AI, and autonomous driving applications.
BABA shares were up $1.45 during trading of Friday and closed at $178.74. During the last trading session BABA shares went up by 0.82%. BABA had trading volume of roughly 15,173,970 compared to its average volume of 20,219,298. The 50 day moving average on BABA right now is about $165.45. BABA had a previous day low range of $176.88 and a day high range of $179.40. BABA has a 52 week low and high range of about $129.77 to $196.27 respectively. Alibaba has a total market capitalization of roughly $465.362 billion.
The new chip may mark an authorizing business for Alibaba, which will make a portion of its software tools openly accessible, yet charge for full features. RISC-V based processor serve most basic functions, for example powering simple internet of things (IoT) devices. Alibaba joins a cadre of Chinese corporations that are aiming to reduce the nation’s reliance on foreign chips.
Alibaba Group Holding Limited works on online and mobile marketplaces in retail and wholesale trade, as well as cloud computing and other services. It provides technology and services to empower consumers, merchants, and other participants to conduct commerce in its environment. The Company operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online business-to-business marketplace; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace. Head office of Alibaba Group Holding Limited is in Hangzhou, the People’s Republic of China.