These companies are widely regarded as AI darlings in China. Alibaba's stock has surged 73% since its low in mid-January (as of this writing). JD and Tencent have also been firmly in rally mode, with the stocks up 41% and 30%, respectively, during the same timeframe. Recent developments suggest there could be more to come.

Chinese tech giants Tencent, Alibaba, and ByteDance have ramped up orders for Nvidia's H20 AI chips, driven by the rising adoption of DeepSeek's cost-efficient AI models, reinforcing Nvidia's dominance in China despite U.

Alibaba’s Cloud Intelligence Group is the key long-term growth driver, fueled by AI demand and rapid expansion. See why I rate BABA stock a buy.

Tencent (0700.HK), Alibaba (9988.HK) and ByteDance have "significantly increased" orders of the H20 - a chip specific to China due to U.S. export controls - since the Chinese AI startup burst into the global public consciousness last month, two of the people said.

Alibaba, ByteDance, and Tencent are driving demand for NVIDIA H20 chips, fueling China’s AI boom despite U.S. export restrictions.

Alibaba said the total investment amount exceeds the company's spending in AI and cloud computing over the past decade.

Alibaba Group Holding Ltd. pledged to invest more than 380 billion yuan ($53 billion) on AI infrastructure such as data centers over the next three years, a major commitment that underscores the e-commerce pioneer’s ambitions of becoming a leader in artificial intelligence.

For the three months ended Dec. 31, the Chinese tech giant's revenue jumped 8 percent year-over-year to 280.1 billion renminbi, or $38.3 billion, beating analyst expectations.