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Alibaba stock jumps 7.5% after AI model announcement
Alibaba Group experienced a stock increase of up to 7.5% in Hong Kong on Mar. 6. This marks the largest intraday rise in nearly two weeks.
The increase followed the company’s announcement to open-source its AI model, QwQ-32B.
The QwQ-32B model, introduced on Mar. 6, matches DeepSeek’s R1 performance while using just 5% of the data parameters, improving efficiency.
The rise in Alibaba’s stock reflects growing investor confidence. This increase is partly due to the company’s advancements in AI and its recovery from regulatory challenges.
This year, Alibaba has added approximately US$135 billion to its market value.
Recent Alibaba developments
| Timeline |
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06-Mar-2025 🤖 Alibaba-backed robotics firm completes $69m series A
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03-Mar-2025 💰 Alibaba-backed Chinese AI firm Zhipu secures $140m funding
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28-Feb-2025 💼 Alibaba to hire 3,000 interns with focus on AI roles
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26-Feb-2025 🎥 Alibaba to launch open-source video AI model
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| 24-Feb-2025 💻 Alibaba to invest $52.4b in AI, cloud over 3 years |
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