Alibaba has been making 'significant strides' in advancing its AI cloud business after launching its Qwen 2.5-Max flagship AI foundation model, Barclays wrote in a note.

Powered by AI, Alibaba delivered a double beat for Q3 earlier this morning triggering a double-digit bounce in its stock. Learn more about BABA stock here.

Chinese shares closed higher amid positive sentiment over tech stocks and Chinese AI firm DeepSeek. Alibaba's latest earnings are buoying the upbeat mood toward Chinese tech stocks and foreign investors' interest in Chinese equities after DeepSeek's tech breakthrough.

Chinese e-commerce giant Alibaba highlighted its AI ambitions as it reported strong results for its third quarter, fueling hopes that it will become a leader in AI.

It’s been Alibaba’s day, week and month. The company has added $123 billion in market value in February, helped by a DeepSeek-driven rally in Chinese tech stocks, its tie-up with Apple to roll out AI features in China and Beijing’s rehabilitation of co-founder Jack Ma.

The e-commerce company posted a better-than-expected 7.6% rise in revenue as it worked to put growth back on track amid fierce domestic competition and a slowing Chinese economy.