Chinese tech titan Alibaba upsized its pledge to spend on artificial intelligence and released a new model, helping send its U.S.-listed shares higher. Other Chinese tech stocks that trade in New York also rose, including search-engine company Baidu and e-commerce giant PDD. Alibaba’s pledge to spend more than $53 billion on AI and cloud infrastructure comes on the heels of big investment announcements from U.S. chip maker Nvidia, with Intel and OpenAI, and Oracle’s windfall cloud deal with OpenAI.
