Alibaba Group Holding (BABA.US) 's ADR rallied 8.9% to US$177.52 in the pre-market session. BABA-W (09988.HK) -5.500 (-3.198%) Short selling $4.10B; Ratio 15.912% 's H-shares closed up 9.16% at $174 on Wednesday (24th), hitting an over-4-year closing high, with a turnover of $44.091 billion.The Apsara Conference 2025 is being held in Hangzhou from today (24th) to Friday (26th). Group CEO, Eddie Wu, said that BABA-W is actively advancing its RMB380 billion AI infrastructure construction plan, and is expected to add more investment to the budget to embrace the era of Artificial Superintelligence (ASI). BABA-W officially launched Qwen3-Max, its largest and most powerful AI model so far.Related NewsNomura: Taobao/ Meituan/ Baidu Monthly Total Usage Time +17%/ +10%/ -6% YoY in AugAs global demand for AI infrastructure accelerates, BABA-W committed to increasing its global data center capacity by 10x by 2032 to support the upcoming ASI era, Citi Research issued a research report saying.Alibaba Cloud, as a leading global full-stack AI service provider, is well-positioned to seize the structural opportunities brought by AI evolution, the broker added. Citi Research believed that this will translate into sustainable revenue growth and margin expansion room for its cloud business. Therefore, Citi Research reiterated rating at Buy on Alibaba Group Holding, and kept its target price at US$187.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-09-26 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)Related NewsSoochow Securities Lists Top 10 HK Stocks w/ Highest Net Buys & Sells by Southbound Funds Last Wk (Table)