The frenzy over Chinese artificial intelligence is turning Alibaba Group Holding Ltd. into an investor favorite again, injecting new life into an e-commerce giant that had nearly sunk into obscurity following a years-long regulatory crackdown.

Shares of Chinese stocks such as Alibaba (NYSE: BABA) and China-exposed stocks Estee Lauder (NYSE: EL) and Nike (NYSE: NKE) rallied on Monday, up 6.2%, 5.2%, and 2.9%, respectively, as of 2:20 p.m. ET.

Asian markets, except for Hong Kong and Mainland China, were lower on Trump’s steel and aluminum tariff talk as the U.S. dollar strengthened overnight.

Alibaba Group’s stock surged up to 8.6% following reports about Apple linking up with the e-commerce giant to roll out AI features for iPhone users in China. For Alibaba, securing a deal with Apple is no less than a breakthrough.

Hong Kong-listed shares hit a four-month high on Wednesday, surging over 8% to HK$113.90, after reports of a strategic AI partnership with Apple Inc. (NASDAQ:AAPL). Apple

Shares of Chinese e-commerce giant Alibaba surged in Hong Kong on Wednesday after The Information reported the company is working with Apple to introduce AI features to iPhone users in China.