{"id":72074,"date":"2026-09-21T23:08:17","date_gmt":"2026-09-22T03:08:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/"},"modified":"2026-09-21T23:08:17","modified_gmt":"2026-09-22T03:08:17","slug":"south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/","title":{"rendered":"South Korea Greenlights $22.3B Texas Power Project; Alibaba Unveils &#8220;China\u2019s Most Powerful&#8221; AI Chip"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/#South_Korea_Commits_223_Billion_to_Texas_Energy\" >South Korea Commits $22.3 Billion to Texas Energy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/#Alibabas_Aggressive_AI_and_Cloud_Expansion\" >Alibaba\u2019s Aggressive AI and Cloud Expansion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/#G7_Condemns_Iran-Backed_Houthi_Attacks\" >G7 Condemns Iran-Backed Houthi Attacks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/#RBNZ_Flags_Inflation_Risks_Amid_Oil_Volatility\" >RBNZ Flags Inflation Risks Amid Oil Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korea-greenlights-22-3b-texas-power-project-alibaba-unveils-chinas-most-powerful-ai-chip\/72074\/#Indonesia_Braces_for_Shorter_Wet_Season\" >Indonesia Braces for Shorter Wet Season<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>South Korea<\/strong> has officially selected a <strong>$22.3 billion gas-fired power plant in Encinal, Texas<\/strong>, as its first strategic investment under a massive <strong>$350 billion U.S. trade framework<\/strong>.<\/li>\n<li><strong>Alibaba Group (<a href=\"\/stock\/BABA\">BABA<\/a>)<\/strong> CEO Eddie Wu unveiled the <strong>Zhenwu V900<\/strong>, claiming it is China\u2019s most powerful AI chip with <strong>3x the performance<\/strong> of its predecessor, alongside plans for a <strong>10-trillion parameter AI model<\/strong>.<\/li>\n<li><strong>G7 Foreign Ministers<\/strong> issued a stern warning to <strong>Iran<\/strong>, demanding an end to the &quot;dangerous escalation&quot; of support for <strong>Houthi<\/strong> attacks on civilian vessels and Saudi energy infrastructure.<\/li>\n<li><strong>RBNZ Governor Anna Breman<\/strong> signaled that <strong>New Zealand\u2019s inflation<\/strong> could remain elevated in the near term if high global <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> persist, ahead of an October policy decision.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"South_Korea_Commits_223_Billion_to_Texas_Energy\"><\/span>South Korea Commits $22.3 Billion to Texas Energy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>South Korea&#39;s Ministry of Trade, Industry and Energy has designated a <strong>6.3-gigawatt (GW) gas-fired combined-cycle power plant<\/strong> in Encinal, Texas, as its flagship U.S. investment. The project, valued at <strong>$22.3 billion<\/strong>, is designed to meet the surging electricity demand from <strong>AI data centers<\/strong> and semiconductor manufacturing hubs in the state.<\/p>\n<p>The investment is part of a broader <strong>$350 billion agreement<\/strong> reached last year, where Seoul pledged significant U.S. capital in exchange for favorable tariffs. While the Texas project is the first to move forward, South Korea is also in discussions regarding a <strong>5-10% stake in Westinghouse<\/strong> and a potential <strong>Alaska LNG development project<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Alibabas_Aggressive_AI_and_Cloud_Expansion\"><\/span>Alibaba\u2019s Aggressive AI and Cloud Expansion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Alibaba Group (<a href=\"\/stock\/BABA\">BABA<\/a>) has launched a major offensive in the global AI race, aiming to surpass <strong>20 GW of data-center capacity by 2032<\/strong>. CEO Eddie Wu announced the <strong>Zhenwu V900 AI chip<\/strong>, a domestic alternative to high-end <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) hardware, which is intended to power the next generation of &quot;agentic AI&quot; workloads.<\/p>\n<p>To support this infrastructure, Alibaba&#39;s <strong>Qwen team<\/strong> is developing a new flagship AI model trained with <strong>5 to 10 trillion parameters<\/strong>. This massive scale aims to provide the reasoning capabilities required for complex, autonomous engineering and enterprise tasks, further reducing the company&#39;s reliance on Western technology.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"G7_Condemns_Iran-Backed_Houthi_Attacks\"><\/span>G7 Condemns Iran-Backed Houthi Attacks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>G7<\/strong> issued a joint statement Tuesday demanding that the <strong>Houthis<\/strong> immediately cease all military actions and threats against civilian shipping. The group specifically cited recent strikes against <strong>Saudi Arabia<\/strong> and <strong>Yemen<\/strong> as unacceptable risks to regional stability and global energy security.<\/p>\n<p>The statement called on <strong>Iran<\/strong> to halt its supply of arms to the group, warning that Tehran\u2019s actions risk &quot;greater global economic instability.&quot; The G7 emphasized that safeguarding maritime routes like the <strong>Strait of Hormuz<\/strong> remains a top priority for international trade.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"RBNZ_Flags_Inflation_Risks_Amid_Oil_Volatility\"><\/span>RBNZ Flags Inflation Risks Amid Oil Volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Reserve Bank of New Zealand (RBNZ)<\/strong> Governor <strong>Anna Breman<\/strong> warned that the country\u2019s economic recovery remains &quot;uneven&quot; and subject to significant external risks. Breman noted that if <strong>elevated oil prices<\/strong> continue, near-term inflation will likely exceed the bank&#39;s September forecasts.<\/p>\n<p>While the RBNZ expects the recovery to broaden, the central bank remains focused on the <strong>October policy decision<\/strong>. Markets are currently pricing in a high probability of further rate adjustments to ensure inflation returns to the <strong>2% target mid-point<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Indonesia_Braces_for_Shorter_Wet_Season\"><\/span>Indonesia Braces for Shorter Wet Season<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Indonesia\u2019s weather agency, <strong>BMKG<\/strong>, has forecast a <strong>shorter-than-normal wet season<\/strong> for 2026-27 across most of the archipelago. While the rains are expected to begin in early November, the overall duration and intensity are predicted to be suppressed by a strong <strong>El Ni\u00f1o<\/strong> pattern.<\/p>\n<p>The agency warned that the late onset and reduced rainfall could exacerbate the risk of <strong>forest fires<\/strong> and impact agricultural yields. Authorities are already implementing weather modification operations to support reservoir levels ahead of the drier months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korea has officially selected a $22.3 billion gas-fired power plant in Encinal, Texas, as its first strategic 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