Alibaba Group Holding Ltd. shares jumped 4.02% on the Hong Kong Stock Exchange after the company unveiled Qwen-3-Max-Preview, its largest AI model featuring over 1 trillion parameters. This makes it larger than OpenAI’s GPT-4.5.
Alibaba’s cloud computing unit reported a 26% revenue growth in the quarter ended June, contributing to the company’s total revenue of $34.73 billion.
In addition, Alibaba led a $100 million funding round for robotics startup X Square Robot and aims for 100% AI adoption by merchants on its wholesale e-commerce platform by the end of the year.
This move positions Alibaba at the forefront of AI innovation in China and strengthens its cloud and e-commerce ecosystem.
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