E Fund AI(03489.HK) down 1.26%, Alibaba debuts Zhenwu V900 AI chip

NewTimeSpace News:as of 11:40 HKT on September 24, 2026, E Fund (HK) FTSE AI Select Index ETF (03489.HK) fell 1.26% intraday to HK$13.330, with turnover of HK$2.18 million, volume of 163,500 units and a turnover rate of 0.29%.

NewTimeSpace has learned that the ETF is managed by E Fund Management (Hong Kong) Co., Limited and tracks the FTSE Custom Global AI Select Index (net total return), covering 50 core AI stocks listed in Hong Kong and the United States across AI computing power, large language models and businesses transforming through AI. As of 11:40 HKT on September 24, the ETF had assets of HK$806 million, a net asset value of HK$13.438 per unit and 100 units per board lot.

On the news front, according to Shanghai Securities News, Alibaba unveiled its self-developed training-and-inference AI chip Zhenwu V900 at the Apsara Conference, with single-chip performance 3x that of the previous M890 generation and a single cluster scalable to 500,000 cards, slated for mass production in the first quarter of 2027; Alibaba Cloud targets operating more than 20GW of global data centre capacity by 2032. According to China Securities Journal, an IDC report forecasts China's intelligent computing capacity will reach 2,576.5 EFLOPS in 2026, up 87.9% year on year, while the global AI computing demand satisfaction rate will fall to a trough of 71% in 2027 from 79% in 2024, with the absolute computing gap widening to US$380.9 billion by 2030.

CITIC SECURITIES noted in a research report that its field research shows computing infrastructure build-out in Ulanqab–Zhangjiakou is still accelerating, with Zhonglian Data planning 7GW long term and Alibaba's Inner Mongolia computing capacity expected to reach 2GW by 2027, as power supply, energy assessments and land are gradually replacing demand as the main constraints on project delivery.

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