Alibaba Group (HK:9988) saw its shares rise on Monday after its revamped consumer AI app, Qwen, delivered a strong performance in public beta. The early momentum boosted investor confidence in Alibaba’s expanding presence in the generative AI space.
According to a post on the company’s WeChat blog, Qwen recorded more than 10 million downloads within a week of its relaunch.
Hong Kong–listed Alibaba shares gained as much as 6%, reaching HK$156.3 by 06:45 GMT.
In a statement released last week, Alibaba said the Qwen chatbot—powered by its advanced Qwen large language model—is now accessible on both mobile and web platforms, with international availability planned for a later stage.
The app can produce detailed research reports and multi-slide PowerPoint presentations from a single prompt. Alibaba described Qwen as “the best personal AI assistant with the most powerful model.”
