Alibaba's AI Surge, Morgan Stanley Raises S&P 500 Target, Chip Stocks Rally

1. Alibaba's CEO is highly optimistic about AI and Cloud business growth, projecting AI-related revenue to become the primary driver of cloud revenue within the next year.
2. Morgan Stanley raises its S&P 500 Index targets to 8,000 for year-end 2026 and 8,300 for mid-year 2027, signaling a very bullish market sentiment.
3. AI and chip stocks, including NVIDIA, AMD, and Micron, are surging in premarket trading, boosted by analyst price target upgrades and positive sentiment in the artificial intelligence sector.