Flat to positive open seen for Indian markets after sharp slide

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indian equities are expected to open on a flat to mildly positive note on Friday, with early indications from Gift Nifty hovering around the 23,200 mark. Crude oil prices fell after Israel Prime Minister Benjamin Netanyahu said that Israel will not attack Iran’s energy infrastructure anymore and that the war will end sooner than expected.

These statements helped improve market sentiment and revived buying in early deals on Friday across major Asian markets. Japan’s markets are closed for a holiday today, while South KoreaKospi inched up. Chinese markets are also up in early trade, while Australian stocks are flat.

Hariprasad K of Livelong Wealth said weak global cues may continue to weigh on overall sentiment. However, the modest decline in crude oil prices is likely to offer some near-term support, helping to stabilize markets in early trade.

Given the mixed global cues and easing oil prices, markets may attempt a mild recovery in early trade. However, elevated volatility, ongoing geopolitical risks, and stock-specific pressures are likely to keep sentiment cautious, with a focus on selective participation rather than broad-based risk-taking, he further said.

According to Angel One, traders should remain cautious in the current environment, focusing on disciplined risk management and avoiding aggressive positioning. “Maintaining lighter positions is advisable until stability returns. It is important to closely track global developments and institutional flows, as these factors are likely to drive near-term market direction,” it added.

Derivative trading also signals a bearish undertone.

Momentum indicators remain bearish, with RSI once again slipping back into oversold territory after facing rejection near 40, while India VIX has surged above 20 (+21.79 per cent), signaling heightened volatility and risk aversion, said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

In the derivatives segment, the put-call ratio at 0.69 reflects a bearish undertone, with strong call writing at 23,300 and put writers shifting towards 23,000, marking it as the immediate support. “Unless the index reclaims 23,400–23,600, the outlook remains negative, with sell-on-rise strategies likely to dominate amid volatile market conditions,” he added.

“India VIX continues to trade above 22 levels, reflecting persistent uncertainty linked to geopolitical developments,” said Hariprasad. While volatility may remain high in the near term, any signs of de-escalation could trigger a sharp decline in VIX, leading to rapid compression in option premiums, he added.

Published on March 20, 2026

Mumbai News: Raj Thackeray attacked in Gudi Padwa rally! Big questions raised on debt, drugs, missing children and government

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Maharashtra Navnirman Sena (MNS) President Raj Thackeray, while giving a powerful speech at the Gudi Padwa meeting organized at Chhatrapati Shivaji Maharaj Park, targeted the state and central government on many serious issues. He said that his party has completed 20 years and it is a coincidence that Gudi Padwa has fallen on March 19 after 20 years.

Raj Thackeray said that he is standing ahead of the elections to bring back the old glory of Maharashtra and is confident that he will win power. He also raised questions on the Prime Minister and said that he missed some important things, especially regarding relations with a country like Iran, which supported India for years. Even after Khamenei’s departure, our PM did not give any statement.

Will have to bear the brunt of this in future- Raj Thackeray

He said that we are not with the country which was with us on the issue of Jammu and Kashmir. It will have to suffer the consequences in the coming future. He alleged that efforts are being made to divert people from real issues in the country. “You have been kept engrossed in entertainment, IPL and social media so that you do not ask questions to the government,” he said.

Maharashtra has a debt of Rs 11 lakh crore – Raj Thackeray

Attacking the state government, Thackeray said that the Chief Minister talks about development, but Maharashtra has a debt of Rs 11 lakh crore, which was earlier around Rs 2 lakh crore during the time of Prithviraj Chavan. He said that the condition of the cities has deteriorated and he has also met the Chief Minister and Deputy Chief Minister in this regard.

He expressed concern over the issue of farmer suicides and said that the highest number of suicides in the country is taking place in Maharashtra. Taking a jibe at Mumbai’s Coastal Road Project, he said that it is not for the common people, but to exclude them and bring in others.

Drug trade is increasing in the state- Raj Thackeray

Raising questions on law and order, he said that drug trade is increasing in the state. He claimed that 82 children went missing in Mumbai during November-December, while in January 2025, 498 children were reported missing in Navi Mumbai, out of which 48 have not been found yet. He said that every year 4,500 to 5,500 children are going missing across Maharashtra.

At the end of his speech, Raj Thackeray said emotionally that if Chhatrapati Shivaji Maharaj had been alive today, seeing this situation, he himself would have reached Vidhan Bhavan and taken strict action. While talking about the great men, Raj Thackeray said that those who are from Maharashtra, do not look at those great men from the perspective of caste, look at what contribution they have made.

We are not even thinking about what Maharashtra, which gives birth to new ideas, is doing today. When the blueprint was brought, many people raised questions. But after coming, no one asked what was inside it. Maharashtra is being given a new website.

Come out of the “gutter ganga” of entertainment. A new website named “Maharashtra Pudhacha” is being launched. This website will act as a bridge between the government and the public. Your ideas will first be passed on to experts.

14 stocks including SBI, 4 Tata group companies, NTPC, IREDA, JSW Cement, Vibhor Steel on Friday

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SBI Funds Management Ltd, a subsidiary of State Bank of Indiahas filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering of up to 203,709,239 equity shares of face value of ₹1, representing up to 10.0013 per cent of its paid-up equity share capital for cash. The IPO comprises an offer for sale of up to 128,334,397 equity shares by State Bank of India, and up to 75,374,842 equity shares by Amundi India Holding.

Tata group companies

Tata Consultancy Services Ltd. has signed a Memorandum of Understanding (MoU) with ABB to strengthen the two companies’ strategic collaboration across IT infrastructure and applications, digital and industrial AI initiatives, data centres, and other emerging technologies. The MoU reflects the parties’ shared intent to drive innovation, operational resilience, and sustainable growth through a long-term partnership approach.

Tata Elxsi and Terumo Corporation, a global medical innovation company, have inaugurated the ‘Terumo–Tata Elxsi Offshore Development Centre’. This dedicated center will support the development of Terumo’s cardiac and vascular solutions, strengthening engineering and innovation capabilities while enabling continuous lifecycle support across international markets.

The Board of Tata Investment Corporation has designated Bahram N Vakil, an Independent Director, as Vice Chairman of the company, effective March 20.

Artson Ltda subsidiary of Tata Projects, has received an award for an amount of ₹42.22 crore including taxes from Anuppur Thermal Energy (MP) Pvt. Ltd for supply, fabrication, testing, painting, packing & forwarding, loading, transportation including transit insurance of prefabricated steel structures for CHP on DAP site basis.

PSU power majors

NTPC has signed an agreement with UK-based Octopus Energy Group to explore business opportunities in various segments, including electricity distribution and storage. The memorandum of understanding (MoU) was signed by Jatinder Singh Chandok, Head International Business Development, NTPC, and Chris Fitzgerald, Group Director, International Affairs, Octopus Energy, on the sidelines of Bharat Electricity Summit 2026 in the national capital.

Indian Renewable Energy Development Agency Ltd.’s Board approved increasing the FY 2025-26 borrowing plan from ₹30,800 crore to ₹35,800 crore. The borrowings include taxable bonds, subordinated Tier-II bonds, perpetual debt instruments, bank term loans, international lines of credit, short-term loans, working capital demand loans, and ECBs.

Old Economy

JSW Cement has successfully commissioned its greenfield integrated cement plant located in Nagaur, Rajasthan, with a cement grinding capacity of 2.5 MTPA and clinkerisation capacity of 3.3 MTPA. This expansion marks JSW Cement’s first production unit in North India. With the commissioning of the above plant, JSW Cement’s total grinding capacity has increased to 24.1 MTPA. The total clinker manufacturing capacity of the company (including the clinker capacity at its joint venture, JSW Cement FZC) stands at 9.74 MTPA.

Vibhor Steel Tubes Ltd has received a new work order from Agrawal Infracab Pvt Ltd for the supply of Transmission Towers on March 19 worth approximately ₹16.87 crore.

Nestle, FSL, IndiQube, Lemon Tree, Amber Enterprises

Nestle India on Thursday said it is expanding the production capacity of its factory in Sanand, Gujarat. The company said that it has invested ₹225 crore for the addition of a production line for its chocolate brand, Munch, in a BSE filing. It said this investment will be made through internal accruals. With this, the proposed capacity addition will be about 8,300 tonnes per annum.

The board of Amber Enterprises India Ltd has approved investing about ₹296.02 crore in the rights issue of its material subsidiary IL JIN Electronics (India) Private Limited. The investment will maintain the company’s controlling stake at 89.72% post-completion, while IL JIN, a leading Electronics Manufacturing Services provider, will use the funds for strategic initiatives with completion expected by April 2026.

Firstsource Solutions Ltdan RP-Sanjiv Goenka Group company, has launched Intelligence That Operates, a full-stack, agent-first operating model to design, build, and run AI-powered enterprise operations – with outcomes underwritten, not promised. The announcement marks a significant evolution of the company’s UnBPO platform and a direct response to what has become the defining challenge of the agentic era.

IndiQube Spaces has secured a major workspace leasing agreement worth ₹54 crore with a leading GCC client in Pune. The deal covers 1,140 seats at IndiQube Orchid facility over a five-year period, featuring customized workspace design including labs, server rooms, collaborative hubs, and training zones. Management noted that GCCs now represent 40 percent of the company’s client portfolio, reflecting growing demand for specialized workspace solutions.

Lemon Tree Hotels LtdIndia’s fastest growing midscale and premium hotel chain, has announced the signing of Lemon Tree Resort in Lonavala, Maharashtra. With 15 operational properties in the state and 14 more in the pipeline, including this signing, the company continues to deepen its presence in Maharashtra, one of India’s most dynamic hospitality markets. The resort will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Ltd.

Published on March 20, 2026

Vijay-Rashmika fulfilled their promise, welcomed their little fan by inviting them home; The girl shared a video and showed a glimpse – Vijay Deverakonda Rashmika Mandanna Hosts Little Fan At Hyderabad Home After Wedding Complaint Serves Food

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Their fans mean a lot to Vijay Deverakonda and Rashmika Mandanna. After their marriage, the couple even sent sweets to their fans in different cities. However, a younger fan of the couple got angry with them because the couple neither invited her to the wedding nor sent them sweets.



This little fan had also shared a video regarding this. After which Vijay Deverakonda promised to call the girl to his house and give her a feast. Now Vijay-Rashmika have kept their promise and invited the little fan to their home and fed her. This video of the couple is now viral on social media.

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A post shared by urs lucky thalli (@urs_luckythalli)


This is how Vijay-Rashmika treated their fans
Vijay Deverakonda and Rashmika Mandanna have invited and welcomed the little girl to their home in Hyderabad. This little fan himself has shared a video on his Instagram account of his visit to Vijay-Rashmika’s house and the hospitality he received there.


In the video shared by the little fan, who is active on Instagram with the name @urs_luckythalli, she is seen visiting Vijay’s house. Where Vijay takes her in his lap and takes her inside. Later, Rashmika, dressed in white, fed him many laddus and caressed him. Vijay also joined him. After this, Vijay is also seen holding the little fan in his lap and talking to him.

Vijay-Rashmika made our day
While sharing this video, the girl has also written a long caption. In this he wrote, ‘Truly. Meeting Vijay Deverakonda at his home was truly a wonderful and memorable moment for me and my family.

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A post shared by urs lucky thalli (@urs_luckythalli)




As soon as we arrived he welcomed us very warmly. Nice to meet Rashmika Mandanna. His cheerful smile and friendly nature made our meeting even more pleasant.

Spending time with him and his family made the experience even more special and intimate. Everyone was so kind, loving and easy-going that we felt as if we were among our own people. We talked beautifully, laughed a lot and had many happy moments that we will always remember. My entire family will always cherish this day.

North Carolina tech worker found guilty of insider attack netting $2.5M ransom

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A 27-year-old North Carolina man was found guilty of six counts of extortion for a series of crimes he committed while working as a data analyst contractor for a D.C.-based international technology company, the Justice Department said Thursday.

Cameron Nicholas Curry, also known as “Loot,” stole a trove of corporate data, including sensitive employee and compensation information, which he used to extort his employer, according to court records. Curry ultimately made off with approximately $2.5 million from the victim organization in January 2024.

The insider attack underscores immeasurable risks companies accept when employees, or contractors placed in roles by a third-party recruitment company, as was the case with Curry, are allowed to access sensitive data on a company-owned laptop. Officials did not name the company.

Curry used his access to the company’s network to remove corporate data for extortion while he worked for the company between August and December 2023. Immediately following his last day of employment with the company, Curry started sending threatening emails to its employees and demanded a ransom to not leak and destroy the data.

Officials said he sent more than 60 emails to various employees and executives over a six-week period, threatening to disclose the company’s payroll data, claiming it showed significant pay inequity across the workforce. In those emails, Curry framed the data theft extortion attack as an effort to implement salary transparency.

“Loot and our partners aim to ensure that everyone is being paid accordingly, providing employees with the leverage they deserve while also adhering to federal government regulations on protected acts,” Curry wrote in one of the emails, according to the indictment.

Curry included attachments with the emails containing screenshot images of spreadsheets listing the personally identifiable information of company employees. Officials said he also warned the company he would provide employees instructions on how to address pay discrimination through mediation, the Equal Employment Opportunity Commission or a class-action lawsuit.

Some of the extortion emails got personal, including a claim that one person on the legal team wasn’t getting a bonus while most employees in high-level positions did receive bonuses. Curry also threatened to report the breach to the Securities and Exchange Commission, citing rules that require public companies to disclose cyberattacks quickly. 

The publicly traded company notified the FBI of the breach on Dec. 14, 2023 and paid Curry’s ransom demand almost a month later.

Multiple operational security mistakes helped authorities identify and build a case against Curry rather quickly. He used personal and verifiable data to establish a new Coinbase account, and two of the debit cards linked to the account Curry established to receive a ransom belonged to his mother and sister.

Authorities searched Curry’s apartment, digital devices and vehicle in Charlotte, North Carolina, just weeks after the ransom was paid. He was arrested and released on bond in late January 2024. 

Officials said Curry initiated his extortion scheme after he learned his contract with the company wouldn’t be renewed. He faces up to 12 years in prison at sentencing.

You can read the full indictment below.

Matt Kapko

Written by Matt Kapko

Matt Kapko is a reporter at CyberScoop. His beat includes cybercrime, ransomware, software defects and vulnerability (mis)management. The lifelong Californian started his journalism career in 2001 with previous stops at Cybersecurity Dive, CIO, SDxCentral and RCR Wireless News. Matt has a degree in journalism and history from Humboldt State University.



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Nine traitors of the country caught from UP-Bihar: Used to make videos of military bases, got Rs 500 to Rs 5000 for this – Nine Arrested Including Five Minors For Spying Against Country

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Samvad News Agency, Ghaziabad Published by: Vikas Kumar Updated Fri, 20 Mar 2026 07:21 PM IST

All these accused were in direct contact with Pakistani person Sardar alias Sarfaraz alias Joga Singh. He was constantly connected with her through the Sandesh app.

Nine arrested including five minors for spying against country

Pakistani spy arrested – Photo: Amar Ujala

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A big case of espionage has come to light in Kaushambi, Ghaziabad, Uttar Pradesh. The SIT team arrested nine other people on March 20. All of them were spying on the country for a Pakistani person.

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UC Berkeley to act on antisemitism after $1M Brandeis Center settlement

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The University of California, Berkeley, will pay $1 million and make changes to its policies on antisemitism after settling a lawsuit with the Brandeis Center. The $1 million penalty will act as a reimbursement to the Brandeis Center for outside attorneys’ fees.

Under the settlement, UC Berkeley is to prohibit discrimination and harassment based on an individual’s actual or perceived religion, shared ancestry, shared ethnicity and/or national or ethnic origin, specifically Jewish or Israeli. The university has also agreed to adopt the International Holocaust Remembrance Alliance (IHRA) definition of antisemitism. However, in a statement released by UC Berkeley after the settlement, the university said it had an “existing practice” of considering the IHRA definition of antisemitism in its reviews of allegations of antisemitism.

The university will also clarify on its Office for Prevention of Harassment and Discrimination (OPHD) website that “bans on Zionists have historically been used by some individuals and institutions as a pretext for excluding Jews,” according to the settlement. This includes reviewing whether Zionism or the term “Zionists” is used as a “proxy” for Jews or Israelis.

“This settlement reflects UC Berkeley’s long-standing values and objectives when it comes to combating abhorrent antisemitic expression, harassment, and discrimination when it occurs on the Berkeley campus,” UC Berkeley said in a statement.

SCHOOLS BOOST ANTISEMITISM GRADES IN NEW REPORT BUT STUDENTS SAY HOSTILITY PERSISTS

Anti-Israel protest at UC Berkeley

Pro-Palestinian protesters set up a tent encampment during a demonstration in front of Sproul Hall on the UC Berkeley campus on April 22, 2024 in Berkeley, Calif. (Justin Sullivan/Getty Images)

The university also noted that the Anti-Defamation League (ADL) recently described Jewish life at UC Berkeley as “excellent” in its Campus Antisemitism Report Card. The ADL gave UC Berkeley a “B” grade on its 2026 report card, showing improvement from the “C” it received in 2025 and the “D” grade it got in 2024.

“What happened at Berkeley is a cautionary tale. Universities, unions, corporations, and political parties cannot create an anti-Zionist exception to their conduct codes. They cannot silence Jewish Americans on the pretext of advancing their own political agendas. As we have now seen time and again, if left unaddressed antisemitic bigotry, whether or not masked as anti-Zionism, only continues to expand,” Hon. Kenneth L. Marcus, chairman of the Brandeis Center and the former U.S. Assistant Secretary of Education who ran the Office for Civil Rights said in a statement.

Paul Eckles, senior litigation counsel at the Brandeis Center for Human Rights Under Law, told Fox News Digital that the settlement marked a “major milestone” in combating antisemitism, but that it “is not the finish line.”

The lawsuit, which was initially filed in 2023, alleged widespread antisemitic harassment of Jewish students at UC Berkeley in the wake of Hamas’ Oct. 7 terrorist attack in Israel. The suit described several stories of students’ experiences with antisemitic harassment at UC Berkeley.

A UC Berkeley student, who was draped in an Israeli flag, was attacked by two protesters who hit him in the head with a metal water bottle, according to the lawsuit. In another instance, a Jewish graduate student was the victim of a break-in and was left a note that said “F–k the Jews, Free Palestine from the River to the Sea.” The lawsuit also noted that “many Jewish students are afraid to go to class.”

Pro-Palestinian protesters carry signs as they march in front of Sather Gate on the UC Berkeley campus

Pro-Palestinian protesters carry signs as they march in front of Sather Gate on the UC Berkeley campus on April 22, 2024 in Berkeley, Calif. (Justin Sullivan/Getty Images)

HIGH-END SHOPPING DISTRICT ROCKED BY ALLEGED ANTISEMITIC ATTACK AS 3 CHARGED

There were also instances in which protesters blocked Jewish students, spat at them and used ethnic slurs, including “dirty Zionist,” the lawsuit states. It noted that students were often targeted if rioters knew they were Jewish or if they were wearing Stars of David or yarmulkes.

Eckles praised the Jewish students who came forward to tell their stories of experiencing antisemitic harassment only for their complaints to be ignored.

“I think it was the power of their stories and just the clear impact that real tangible antisemitism had on them and their experience at the school that ultimately paved the way for the settlement and convinced UC Berkeley to adopt the reforms in the agreement,” Eckles said.

Two Jewish professors’ experiences were also included in the suit. In one case, a Jewish professor received an email “calling for his gassing and murder,” according to the lawsuit. The other Jewish professor was a vandalism victim with graffiti messages calling him a terrorist.

The lawsuit also mentioned an instance on Feb. 26, 2024, in which a student group known as Bears for Palestine succeeded in a plan to shut down a speaking engagement organized by Jewish students. The speaker was Ran Bar Yoshafat, an Israel Defense Forces reservist and lawyer. As the “violent mob” shut down the event, a rioter spat on a Jewish student and called him a “dirty Jew,” according to the lawsuit.

Pro-Palestine encampment at UC Berkeley

With a background of tents, boards covered with painting and fliers of support for Palestinians surround Sproul Hall on the campus of the University of California, Berkeley, where pro-Palestinian supporters have set up tents and a perimeter of barriers, photographed May 4, 2024 in Berkeley, Calif. (Jay L. Clendenin/Getty Images)

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Shortly after entering office, President Donald Trump signed an executive order aimed at combating antisemitism. Additionally, in February 2025, the Justice Department formed a task force specifically focused on fighting antisemitism. Senior Counsel to the Assistant Attorney General for Civil Rights Leo Terrell was tapped to head the task force.



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MP News: ‘Don’t move ahead, the truck is unbalanced’, truck full of straw kept running diagonally in Rajgarh, police kept screaming and then…

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Sometimes accidents give signals in advance – they just need to be understood. On March 19, one such horrifying scene came to light on National Highway-52 near Jalpa Mata Temple in Rajgarh, where a truck filled with straw got tilted and gradually became a threat of death… and overturned within a few moments. This entire incident was captured live in the mobile camera of a young man sitting in a car.

Actually, due to Chaitra Navratri, the crowd of devotees in the temple area is at its peak. Meanwhile, the truck (MP09 HH9466) going from Sironj in Vidisha district to Rajasthan was loaded with chaff more than its capacity. Due to overloading, the truck had lost balance and was moving in a dangerous manner on the highway road from Rajgarh towards Jalpa Mata Temple. The danger was increasing with every passing second.

Policemen kept shouting- ‘Don’t move ahead… the truck is unbalanced’

When head constables Mohin Khan, Chandrabhan Gurjar and Satish Bhilala, posted at Dial-112 on the spot, saw this scene, they realized that now it was just a matter of a few moments. He immediately parked his car in the middle of the road and stopped traffic from both sides. The policemen kept stopping people by shouting in a loud voice – “Don’t move ahead… the truck is unbalanced…”.

The most surprising thing during this time was that despite continuous warnings from the police, the truck driver did not stop the vehicle. The truck kept moving forward diagonally and suddenly overturned on the road. People watching that moment were stunned – and some people recorded the entire incident on their mobile phones from inside a car parked there.

It is seen in the viral video that if the police had delayed even for a few seconds, the vehicles coming out of the highway could have been hit by this truck. Considering the number of vehicles of devotees passing through the road due to Navratri, this accident could have been very frightening.

The driver was taken out by breaking the glass

The policemen did not stop even after the truck overturned. He immediately broke the glass of the truck and took out driver Phoolsingh Ahirwal (resident of Barakhedi, district Vidisha) and cleaner Santosh Yadav safely. It is a matter of relief that neither of them suffered any serious injuries.

This incident is not just an accident but also shows the difference between negligence and responsibility – on one hand the overloaded truck and the driver ignoring the warning, and on the other hand the police who took a decision in a few seconds and saved dozens of lives. Live video is now a witness to the fact that danger does not come suddenly… it comes gradually and a decision taken at the right time can even avert it.

Input By : Manish Soni

Alibaba has made 470,000 AI chips, admits they’re inferior • The Register

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Chinese web giant Alibaba has revealed its T-Head chipmaking business has shipped 470,000 AI chips, and admitted they are currently inferior to rival products, but believes it can build a mutually optimized stack that makes performance gaps moot.

CEO Yongming Wu revealed the 470,000 figure during the company’s Q3 2026 earnings call, without specifying the model he referred to. Alibaba has created several chips at least three chips designed for AI workloads, including the infamously buggy XuanTie C908, the TH1520 for edge AI, and the Pingtouge Zhenwu 810E. The latter debuted in January and is thought to be competitive with Nvidia’s H20, a throttled version of a 2023-vintage Hopper architecture accelerator.

If Wu was referring solely to the 810E, delivering 470,000 since January is impressive as it puts Alibaba’s output at the same pace as Nvidia’s: CEO Jensen Huang last year said the company shipped six million Blackwell GPUs in a year.

However the Zhenwu 810E cannot compete with accelerators from Nvidia or AMD, a fact Wu acknowledged.

“Given that our chips still lag behind foreign counterparts and performance in various respects, we aspire to engage in more profound co-design with Alibaba’s cloud infrastructure and the Qwen model to provide improved cost effectiveness,” the CEO said. “This is one key differentiator and how we approach chip design at T-Head that sets us apart from other chip companies. Our primary goal is to create AI capabilities that offer superior value for money.”

He also said developing its own chips gives Alibaba “guaranteed supply of AI computing power,” which he said is necessary given “the unique circumstances currently facing the AI industry in China” – likely a reference to US export bans on advanced accelerators.

Wu also thinks developing its entire stack will mean Alibaba can lower inferencing costs, and that doing so will mean the company’s cloud can rake in plenty of profits as demand for AI services increases.

Alibaba Cloud is already doing well, growing quarterly revenue 36 percent year-over-year to $6.2 billion. The company predicted it can reach $100 billion of annual cloud and AI revenue within five years.

Wu also commented on speculation that Alibaba plans to spin out T-Head, saying the company doesn’t rule out a future float but has no “definitive time line” for making it happen.

Alibaba’s revenue for the quarter landed at $40.7 billion, representing two percent growth. Execs pointed out that had it not sold some businesses, growth would have been nine percent.

Domestic e-commerce and logistics services remain the company’s main businesses, together accounting for almost half of revenue. International e-commerce services brought in $5.6 billion, a six percent year-over-year increase.

That’s an unwelcome result for Alibaba, given Beijing is looking to its e-commerce giants to help it achieve a goal of increasing export sales.

That leaves Alibaba’s cloud as its only fast-growing business, and with a lot riding on its ability to achieve the swift surge to from around $25 billion to $100 billion annual revenue.

CEO Wu thinks that growth is achievable because Alibaba Cloud saw a 6x increase in token consumption on its model studio platform in the last six months alone.

He thinks that kind of growth will recur.

“Cloud and software budgets for enterprise IT services have traditionally represented only around 5 percent of corporate revenue,” he said. “As model-driven agents begin to handle mainstream work tasks across industries, our total addressable market will expand by several multiples.” ®



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