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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.

Apple Partners with Alibaba to Introduce AI Features for iPhones in China

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Apple has partnered with Alibaba to launch artificial intelligence features for iPhone users in China, a move aimed at addressing months of uncertainty over Apple’s AI strategy in the region, according to The Information. The collaboration could help Apple regain its competitive edge in the Chinese market, where it has been losing ground to local rivals such as Huawei, which has already incorporated AI tools into its smartphones since last year.

Apple’s stock rose by 1.5% following the news, while Alibaba’s U.S.-listed shares saw a 2.6% gain. Apple had initially chosen Baidu as its AI partner, but the Chinese company’s progress in developing models for Apple Intelligence did not meet Apple’s standards. As a result, Apple considered various other AI models from Tencent, ByteDance, Alibaba, and Deepseek but ultimately chose Alibaba for its ability to leverage vast amounts of user data related to shopping and payment habits, which could enhance model training and enable more personalized services.

The Chinese AI features co-developed by Apple and Alibaba are now under review by China’s cyberspace regulator for approval. This development is crucial as Apple’s iPhone sales declined during the holiday quarter, typically its best-performing period, largely due to the absence of AI features in its latest devices. Apple remains optimistic, forecasting strong sales growth for the current quarter.

JD.com Enters China’s Competitive Food Delivery Market

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Chinese e-commerce giant JD.com (9618.HK) is expanding into the country’s food delivery sector, announcing on Tuesday its move to recruit restaurants for its new service, JD Takeaway. The company posted an invitation on its official Weixin account, offering a compelling incentive for restaurants: “Join us now, zero commissions all year round!”

Merchants who sign up with JD Takeaway before May 1 will enjoy a full year of commission-free services. JD.com aims to provide extensive support to these businesses, promoting the sustainable and healthy development of the food delivery industry.

China’s food delivery market is highly competitive, with two major players dominating the space: Meituan (3690.HK), the market leader, and Eleme, owned by Alibaba (9988.HK). JD.com’s entry into this market comes at a time when the company is facing intense competition in the broader e-commerce industry, dominated by giants like Alibaba Group and PDD Holdings (PDD.O), as well as rising platforms such as Douyin.

To stay competitive amid an economic slowdown and declining consumer spending power, JD.com has rolled out discount campaigns. However, these efforts have contributed to a decline in the company’s share price. Despite this, JD.com continues to leverage its robust, self-run logistics network, offering same-day or next-day delivery across most regions of China.