Lyon: China supports the construction of data centers to Alibaba (09988), causing the stock price to decline. However, the management is determined to gain more market share in AI.

According to the Securities Times app, a report from Credit Suisse stated that the Chinese government plans to invest 2 trillion yuan in the construction of data centers over the next five years, with support from China Mobile (00941) and China Telecom (00728). It is believed that this is the reason for the pullback in the stock price of Alibaba-W (09988).