Alibaba shares soar 7% on AI collaboration with Apple

Alibaba Group shares jumped over 7% following reports of a collaboration with Apple to develop AI features in China.

The Information reported that both companies have submitted their AI features for regulatory approval.

Despite the Alibaba news, shares of another major AI player, Baidu, remained steady in Hong Kong.

Recent Alibaba developments

Timeline
11-Feb-2025 📦 Alibaba’s food delivery branch names new CEO Wu Zeming appointed CEO of Ele.me Han Liu now heads Instant Logistics Center
10-Feb-2025 ❌ Alibaba dismisses $1b DeepSeek investment rumors Alibaba denies $1B stake in DeepSeek rumors. VP claims investment speculation is false.
07-Feb-2025 🤖 Alibaba appoints AI expert Steven Hoi as VP Steven Hoi appointed VP of AI at Alibaba. Focus on enhancing consumer-facing AI products.
04-Feb-2025 🤖 Alibaba Cloud integrates DeepSeek’s open-source AI models Alibaba Cloud adds DeepSeek AI models to gallery Users can deploy models easily without coding
30-Jan-2025 🤖 Alibaba launches AI model claimed to outperform DeepSeek Alibaba unveils AI model Qwen 2.5-Max. Competition heats up as companies cut AI prices.
21-Jan-2025 🚀 Alibaba Cloud unveils new AI models, tools for developers

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