China’s New AI Tools Ignite Stock Market Frenzy as Alibaba Soars
- Alibaba’s platform marked a big leap over the previous version
- Alibaba is now at the forefront of the domestic AI sector
WATCH: Alibaba’s shares surged after it unveiled an AI model that could rival DeepSeek, as Annabelle Droulers reports.
Source: BloombergThis article is for subscribers only.
A spate of new artificial intelligence tools from China sparked frenzied trading in the nation’s stock market, propelling an index of technology companies to a multi-year high.
Alibaba Group Holding Ltd. paced the gains on Thursday after unveiling its latest open-sourced AI model. The platform marked a big leap over the previous version, using just a fraction of the data DeepSeek’s R1 employs.