11:29 - 24.09.2025

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September 24, Fineko/abc.az. Shares of the Chinese Alibaba corporation are adding over 6% on the Hong Kong Stock Exchange on plans to increase investments in artificial intelligence (AI) infrastructure.

ABCAZ reports that Alibaba CEO Eddie Wu said that the company will increase its previously announced investments of 380 billion yuans (approx. $53.4 bn) to develop AI models and other technologies over the next 3 years. However, he did not disclose the amount.

Alibaba also introduced its new AI model, Qwen3-Max, with 1 trillion parameters.

Amid these events, Alibaba shares are rising in price by 6.65%, up to 170 Hong Kong dollars. The last time the securities of a Chinese company rose to these levels was in October 2021, according to trading data. Since the beginning of the year, Alibaba shares have grown more than by 100% on the Hong Kong Stock Exchange.