Squawk Pod 5 Things to Know Before the Opening Bell 9/2/2025
Sep 2, 2025
Nvidia faces pressure as Alibaba develops a competing AI chip, causing a stir in the market. Meanwhile, Alibaba's shares surge nearly 20% thanks to impressive cloud growth. OpenAI makes headlines by seeking partners for a massive data center in India. In fashion news, Vogue editor Anna Wintour has selected her successor, sparking excitement. And don't forget – the Powerball jackpot has skyrocketed to an astonishing $1.3 billion!
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Nvidia Faces New China Competition
- NVIDIA faced pressure after reports Alibaba is building a competing AI chip.
- Alibaba's cloud growth helped its Hong Kong shares surge almost 20% on the earnings news.
Alibaba Cloud Drives Stock Surge
- Alibaba's Hong Kong shares jumped nearly 20% after a strong cloud revenue print.
- The company reported cloud computing revenue growth of 26% year over year.
OpenAI Eyes Major Data Center In India
- OpenAI is vetting partners for a massive Indian data center that could be among the country's largest.
- CEO Sam Altman may announce the site during his visit to India this month.