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BTCC / BTCC Square / Global Cryptocurrency /
Alibaba’s AI Surge Sparks 5% Stock Jump as Qwen App Hits 10M Downloads

Alibaba’s AI Surge Sparks 5% Stock Jump as Qwen App Hits 10M Downloads

Author:
Global Cryptocurrency
Published:
2025-11-24 09:59:02
11
1
BTCCSquare news:

Alibaba Group Holding Ltd. shares rallied more than 5% in Hong Kong trading after its Qwen AI assistant surpassed 10 million downloads within a week of relaunch. The e-commerce giant's aggressive push into artificial intelligence comes as China's tech sector seeks domestic alternatives to blocked Western services like ChatGPT.

The company unified its existing iOS and Android apps under the Qwen brand this month, creating a consolidated platform that's now outpacing many rivals in user acquisition. Separately, affiliate ANT Group's LingGuang AI assistant achieved 1 million downloads in just four days, signaling strong market demand for homegrown AI solutions.

Analysts note the rapid adoption positions Qwen as a potential gateway for Alibaba's broader ecosystem. "The integration with Taobao and other commerce platforms could create China's first truly transactional AI assistant," said Kenny Ng of China Everbright Securities International. "This execution will weigh heavily on Alibaba's valuation multiples moving forward."

|Square

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