Alibaba shares jump 19% thanks to accelerating cloud growth and new AI chip rumors
Alibaba’s Hong Kong-listed shares saw a massive 19% surge, driven by dual positive news: accelerating revenue growth in its cloud computing unit and reports of developing a new AI chip, restoring investor confidence in the Chinese tech giant.
Alibaba launches Qwen3-Max: a trillion-parameter model with ultra-fast response speed
Alibaba’s Qwen AI team continues to impress the world by launching Qwen3-Max, its largest language model to date with over a trillion parameters, placing it in direct competition with global artificial intelligence giants.
Alibaba launches smart glasses to rival Meta
China’s Alibaba Group showcased the new generation of its Qwen Glasses N1 smart glasses in Hangzhou, starting at a price of around $450 to compete with Meta’s Ray-Ban glasses. The new glasses feature a 50-megapixel camera, ultra-high-definition video recording, and iris authentication for secure electronic payments.
Alibaba launches “Quark” AI glasses and enters the race
Alibaba has entered the wearable devices race by launching its “Quark” smart glasses in China. Powered by the Qwen artificial intelligence model, the glasses aim to serve as a life assistant that integrates with shopping, payment, and translation applications, competing with giants like Meta and Apple.
Chinese experts admit: China’s chance of catching up with the US in AI is extremely slim
Prominent Chinese scientists have warned of the difficulty of catching up with the United States in artificial intelligence soon, pointing to the massive gap in computing resources and chips as a major obstacle.
Alibaba launches Wan 3.0 video model
Chinese tech giant Alibaba has officially launched the latest version of its AI video generation model, “Wan 3.0,” capable of producing 30-second videos from documents, spreadsheets, and presentations, just a day after raising $10.2 billion to support AI investments.
Alibaba and Tencent spend $18 billion on AI
Alibaba and Tencent, China’s largest technology giants, spent approximately $18 billion on capital expenditures during the second quarter of 2026 amid an intense arms race to build artificial intelligence infrastructure. Despite acute financial pressure and declining net profits, both companies are betting that smart computing is the definitive engine of future growth.
Alibaba launches developer platform and artificial intelligence model
Alibaba Group has unveiled its latest multimodal technical model, signaling a strong return to its open-source strategy. The move includes the launch of an all-new developer platform and a revenue-sharing model for commercial users. These steps reflect the company’s drive to build an integrated ecosystem and provide advanced solutions for markets.
Alibaba sues Pentagon over blacklist designation
Alibaba has filed a lawsuit against the US Department of Defense challenging its classification as a military company, marking a major escalation amid economic wars and retaliatory sanctions between Beijing and Washington.
China defies sanctions by launching largest AI computing cluster with domestic chips
In a strategic move bolstering its technological independence, China has operationalized the world’s largest AI complex dedicated to scientific research, relying entirely on domestically made chips to counter strict US export controls.