The shares of Alibaba Group Holdings saw a 7% increase on Thursday. The company’s stock got the biggest jump in the last few weeks on Thursday. This boom is being seen when the company has unveiled a model that it claims that it performs as well as a deepec, but it does not require data. According to Bloomberg news, China’s e-commerce leader will overtake the domestic AI sector in 2025 with a highly benchmark model. The company opened the QWQ-32B model on Thursday. The platform has made a much bigger jump than the previous version, using about 5% parameters or data units used by DeepCek’s R1.
Hong Kong Trading jumps up to 7.5%
According to Livemint news, Alibaba’s stocks saw a jump of up to 7.5% in Hong Kong Trading. It was its largest intra-day gain in about two weeks. This year the company has seen a strong recovery so far. Alibaba Group Holdings has added $ 135 billion to their market cap this year. According to the news, the trend of investors in this company, established by Jack Ma, has increased. Actually, this company is stabilizing the business affected by the government action that has been going on for years. Its growing efficiency in AI and increasing signs of Beijing support helped its return. The share of Alibaba Group Holdings’s stock is 139.30 Hong Kong Dollars till the news is written on Thursday.
Talk of investing 380 billion yuan
According to the report, Alibaba has said to invest more than 380 billion yuan ($ 52 billion) on data centers such as AI infrastructure in the next three years. This is a major commitment that reflects Alibaba’s ambitions to become a leader in artificial intelligence (AI).
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