Alibaba Group (NYSE:BABA) saw its stock push higher on Monday after its newly upgraded consumer AI application, Qwen, delivered an impressive performance in its first week of public beta testing — a result that renewed market enthusiasm for the company’s generative AI ambitions.
According to a post on Alibaba’s WeChat account, the relaunched app surpassed 10 million downloads within a week, signaling strong user interest and early traction in the crowded AI-assistant market.
The company’s Hong Kong–listed shares responded sharply, rising as much as 6% to HK$156.3 by 06:45 GMT.
In a statement released last week, Alibaba said the revamped Qwen chatbot — built on its advanced Qwen large language model — is now accessible through both mobile and web platforms, with plans to expand availability internationally in the future.
The company highlighted the app’s upgraded capabilities, which include creating 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.”