Shares of Alibaba surged by more than 10% as the company's financial report showcased a remarkable 26% jump in cloud business revenue. Taobao Flash Sale, the platform's dynamic sales initiative, has witnessed a meteoric rise with 300 million monthly active users, marking a 200% increase since April. Projections indicate that the flash sale and instant retail segment is poised to generate an estimated RMB 1 trillion in new transactions over the next three years. Furthermore, Alibaba is at the forefront of technological innovation, currently testing a new AI chip tailored to handle a diverse array of AI inference tasks. This cutting-edge chip is compatible with NVIDIA standards and is manufactured by a domestic Chinese enterprise, underscoring Alibaba's commitment to fostering local tech ecosystems.