Alibaba’s AI Reasoning Model Drives Shares Higher

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Alibaba Group’s Hong Kong-listed shares surged by more than 8% on Thursday following the release of its new artificial intelligence (AI) reasoning model, QwQ-32B. The company claims that the model, with 32 billion parameters, delivers performance comparable to global AI hits like DeepSeek’s R1, which has 671 billion parameters.

The announcement was made through Alibaba’s AI unit on X, the platform formerly known as Twitter, where the company highlighted the QwQ-32B’s abilities in areas such as mathematical reasoning, coding, and general problem-solving. The model was put to the test in benchmark evaluations, performing on par with top AI models like OpenAI’s o1 mini and DeepSeek’s R1.

Alibaba’s new model is accessible via its chatbot service, Qwen Chat, where users can choose from a variety of Qwen models, including the powerful Qwen2.5-Max. The launch comes at a time when the Chinese government is increasing its support for industries, including artificial intelligence, humanoid robots, and 6G telecom.

DeepSeek, which has emerged as a key player in China’s AI landscape, continues to compete with global AI giants like OpenAI, offering models that rival the performance of more expensive alternatives with fewer computing resources.

In addition to Alibaba’s advancements, another AI release attracting attention was the introduction of Manus, an AI agent developed by the Chinese startup Monica. Manus, which outperformed OpenAI’s Deep Research in benchmarks for AI assistants, can help users with tasks such as travel planning and insurance comparisons. Currently by invitation only, a video showcasing Manus has gained significant interest, with over 280,000 views as of Thursday.

Brazilian Fintech Meliuz Adopts Bitcoin Reserve Strategy, Shares Surge

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Meliuz, a Brazilian fintech company, has adopted a bold new strategy allowing it to allocate part of its cash reserves into bitcoin, potentially making the cryptocurrency the main asset of its treasury in the future. This announcement has had an immediate impact on the company’s São Paulo-traded shares, which surged more than 25% on Thursday.

In a securities filing, Meliuz revealed that it aims to capture long-term returns from its bitcoin investments, drawing inspiration from prominent firms like U.S.-based MicroStrategy and Japan’s Metaplanet, both of which have significant bitcoin holdings. The company has committed to allocating up to 10% of its cash reserves into bitcoin, having already purchased 45.72 bitcoins for around $4.1 million.

Founded in 2011, Meliuz initially started as a cashback service for online purchases, later expanding into physical retail, app usage, and offering free digital accounts and credit cards. Although the company went public in late 2020, its stock had faced difficulties, mainly due to Brazil’s high interest rates. Despite this, Meliuz currently has over 240 million reais ($41.72 million) in net cash.

Chairman Israel Salmen explained that while allocating capital to fixed-income investments might seem prudent, Meliuz believes this strategy represents a significant opportunity cost. He emphasized that the bitcoin reserve strategy would not only strengthen the company’s financial position but also help it lead in a global financial transformation already underway.

Meliuz will further analyze the potential of adopting bitcoin as its main strategic asset. UBS BB analysts noted that while the approach is new for Brazilian companies, it aligns with a growing global trend seeking alternative stores of value. They added that, if successful, Meliuz’s strategy could attract crypto-focused investors, though it may also bring increased volatility to the company’s results.

Granicus Owners Consider $4 Billion Sale of Government-Services Software Maker

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Granicus, a government-services software maker based in Denver, is reportedly preparing for a potential sale that could value the company at approximately $4 billion, including debt. The firm, owned by private equity firms Vista Equity Partners and Harvest Partners, has engaged investment banks Jefferies and William Blair to explore the sale process, which is expected to begin in the second half of the year, according to sources familiar with the situation.

The discussions are still in the early stages, and the sources cautioned that the sale’s timing and details are not yet finalized. The owners are aiming for a valuation that reflects more than 20 times the company’s projected earnings before interest, taxes, depreciation, and amortization (EBITDA) of approximately $175 million.

Founded in 1999, Granicus offers cloud-based software and various technology tools to governments at the federal, state, and local levels. These tools are designed to improve government efficiency, transparency, and citizen engagement, including services like website design and maintenance, public records management, and technological upgrades to help citizens better connect with public officials.

Vista Equity Partners acquired a majority stake in Granicus in 2016, followed by a merger with another Vista-backed company, GovDelivery. Harvest Partners acquired a significant stake in Granicus from Vista and K1 Investment Management in 2020. Neither Vista, Harvest Partners, Granicus, Jefferies, nor William Blair immediately responded to requests for comment.