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.

Chinese e-commerce firm Alibaba Group Holding posted its fastest revenue growth in over a year, beating analyst expectations as it capitalizes on the artificial intelligence boom in China.

Billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly $1 billion in recent months, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Cohen had built a stake in Alibaba worth hundreds of millions of dollars in early 2023 and was pushing the company to increase and speed up share buybacks, sources had then told Reuters.