Alibaba bets on AI as TotalEnergies secures Normandy - Sep 24, 2025

As of September 24, today’s news highlights a significant partnership announcement from Alibaba and extensive developments in energy investments across Europe and the U.S. Alibaba announced today a partnership with Nvidia, global data center expansion plans and new artificial intelligence products, as it positions AI as a core business priority alongside its traditional e-commerce operation. The announcement helped send Hong Kong-listed shares of the Chinese company up nearly 10% to a four-year high today, as investors welcomed its plan to double down on AI amid grueling competition with local peers that include DeepSeek and Tencent. Meanwhile, a consortium led by TotalEnergies has won a tender to develop and build a 1.5-gigawatt wind farm off the coast of Normandy, marking France's largest such project to date. Turning to market updates, the Canadian Pension Plan Investment Board holds a 0.5% short position in NKT. Furthermore, the Dutch government is divesting a 46% stake in TenneT's German operations, selling to a consortium that includes APG, Norges Bank, and GIC for up to 9.5 billion euros. This strategic sale is part of a broader trend, as asset owners in energy infrastructure deal with soaring funding needs for power lines across Europe. In global scenarios, the U.S. is investigating dumping complaints against Indian solar manufacturers, a situation that threatens to impose high tariffs on a sector that contributes significantly to exports. The inquiry is a consequence of competitive pressures from U.S. manufacturers and underlines the vulnerabilities faced by India's solar industry despite substantial domestic growth initiatives. Meanwhile, copper prices have rallied sharply to a one-week high, driven by Freeport-McMoRan's announcement of force majeure at its Indonesian Grasberg mine following a recent landslide, reflecting concerns about ongoing supply tightness in the market. Additionally, Eni and Seri Industrial have initiated a project to manufacture stationary lithium batteries in Italy, aligning with Europe's shifting energy landscape and an increasing focus on energy storage solutions. Furthermore, reports indicate that Oracle is aiming to raise 15 billion dollars through corporate bond sales, anticipating substantial investments in cloud infrastructure to address the rising demand for AI services. In world news, President Trump is set to meet Australia's Prime Minister Albanese on October 20 in Washington. This will be the first summit for the two leaders since Trump's last election, with significant topics including the AUKUS submarine deal aimed at bolstering Australia's defense capabilities amid regional tension with China.