Alibaba's New AI Model Sparks Stock Rally, Fuels Earnings Optimism
Summary
Alibaba's unveiling of its powerful QwQ-32B AI model, rivaling DeepSeek's R1, sparked a stock rally with its Hong Kong shares hitting a 52-week high, fueling optimism among analysts about the company's earnings potential driven by its AI advancements.
Key Points
- Alibaba unveiled its new AI reasoning model QwQ-32B, claiming it rivals DeepSeek's R1 model
- Alibaba's shares soared, with its Hong Kong-listed stock hitting a new 52-week high and gaining nearly 71% year-to-date
- The optimism surrounding Alibaba's AI developments could set the company's earnings on an upward trajectory, according to analysts