Alibaba HK shares surges to 4-year peak on tie-up, AI pivot

** Alibaba's 9988.HK Hong Kong shares climb 2.2% to HK$177.8, their highest since Aug 2021, set for fifth straight session of gains

** U.S.-listed shares BABA.N rose 8.2% on Wednesday after announcing Nvidia partnership, global data center expansion, new AI products
** Citi reiterates "buy," hikes PT to $217 from $187 for U.S. shares, HK$215 from HK$183 for HK shares; calls it a solid AI-play

** "Being one of the 5-6 global super cloud platforms with full-stack AI services, we believe Alibaba is well-positioned to capture the ASI (Artificial Superintelligence) evolution that should translate to sustainable cloud revs growth with efficiency margins upside in coming years" - Citi

** YTD, Hong Kong stock up 113.8%, BABA up 109.8%