Shares of Chinese technology giant Alibaba surged more than 19% on the Hong Kong Stock Exchange on September 1, reaching their highest level since March of this year. Such growth was the market's reaction to the company's new quarterly results, which indicate successes in the development of cloud technologies and artificial intelligence.

Investors were particularly positive about the accelerated growth of Alibaba's cloud division's revenue, which increased by 26% year-on-year. This exceeds the previous quarter's figures and confirms the effectiveness of the company's investments in cloud infrastructure and the development of its own artificial intelligence models.

Alibaba, which is the largest in Asia and one of the world's leading e-commerce companies, also announced the development of a new AI chip. Investors reacted positively to this, given the eighth consecutive quarter of triple-digit revenue growth from artificial intelligence-related products.

Although the total revenue for the quarter amounted to \.73 billion and did not meet analysts' expectations, the company's net profit increased by 78%, which significantly exceeded the forecast indicators. This demonstrates the success of Alibaba's strategy aimed at developing new business areas and technologies.

One of the company's key areas is the so-called "instant commerce", which allows users to quickly make purchases and receive goods. The growth of profitability in this segment reinforces investors' confidence in the future development of the company.

Analysts note that Alibaba's success demonstrates the importance of innovation and technological development for large corporations. Investments in cloud services and artificial intelligence allow the company not only to maintain its leading position in e-commerce, but also to open up new promising markets.