Alibaba it's the same again Pole Star of Asia, which jumped by a further one today 4% to the bag of Hong Kong after announcing a new model of artificial intelligence, which he called “the greatest and smartest ever”, thus continuing the challenge with Magnificent Seven with stars and stripes.
The e-commerce company had already thrown down the gauntlet to the super expensive American AI companies. last week, when it had released its financial data with a three-digit percentage increase in revenues from AI-related products, as well as a 26% jump in sales from its cloud division that exceeded expectations. Today's further surge followed the announcement of an update to its open-source AI model and its co-funding of a robotics startup.
The Asian tech giant announced over the weekend the Qwen3-Max-Preview model, equipped with over a trillion parameters, reports BloombergThe company said the model is its largest and smartest ever, outperforming its previous best offering, the e-commerce company's Qwen3-235B.
According to the calculations of Bloomberg based on stock market data, China's investors Mainland investors invested more in Alibaba shares last week than any other stock on Hong Kong's Hang Seng Stock Exchange. Investors purchased HK$13,5 billion worth of Alibaba shares, equivalent to approximately $1,7 billion. Net weekly purchases were higher than the totals for recent months and would be the highest monthly purchases since April. With an 18% surge this month, the stock became the best performer on the index. Today, it jumped as much as 4,7% in Hong Kong.
Even the Wall Street analysts have become more bullish on the stock: at least 20 of them raised their price targets after the earnings report, with an average projection of another 17% upside for the stock next year.
Alibaba leads $100 million investment in humanoid robot startup
This morning, Chinese humanoid robot startup X Square Robot announced it has raised approximately $100 million in a financing round led by Alibaba. The news was reported by the American portal CnbcAccording to CEO Yang Qian, this is the Shenzhen-based startup's eighth round of funding since it launched in December 2023. This latest deal brings the total investment in X Square Robot to approximately 2 billion yuan ($280 million).
