Market News

The ‘A’ in Chinese AI is Alibaba

By Paul Reid

13 September 2023

In this article, we will cover Exness opinions alongside reporting from The Wall Street Journal, a commercial partner of Exness.

In the last 7 days, Alibaba Group Holding Limited (BABA) fell 6.71% from $94.65 (USD) to $88.33, but there may be a good reason to expect a rebound. BABA has been a wonderfully flowing asset this year with regular rises and falls within a $20 range.

Currently, BABA is sitting at the low end of range expectations of a $10-$15 rise.  Based on past tracking, that would be a reasonable forecast. But with the recent announcement that Alibaba has released its entry into the AI Chat space, things might be about to heat up way more.

If Alibaba’s AI debut goes well, sentiment may sway bullish. Will it reach January 2023 levels of $120? Possibly, but unlikely given the negative sentiment surrounding Chinese stocks in general. But then, AI-related assets seem to defy market expectations at the moment, so keep an open mind.  Here’s how The Wall Street Journal reported on this breaking news.

Alibaba Introduces AI Model to Public


The rollout comes as Alibaba prepares to list its cloud-intelligence arm

Alibaba Group has launched its artificial-intelligence model, Tongyi Qianwen, to the public, making it the latest Chinese company to tap the country’s fast-growing AI market.

Chinese tech giants have been racing to launch generative AI models to rival OpenAI’s ChatGPT. Late last month, Baidu and SenseTime rolled out their own versions of ChatGPT-like AI language models, dubbed Ernie Bot and SenseChat, respectively.

The Alibaba Cloud Intelligence division announced the launch in a post on social-media platform WeChat on Wednesday. It also said that it will work with organizations including Oppo, Taobao, DingTalk and Zhejiang University to train and develop their own AI large-language models based on Tongyi Qianwen.

The rollout comes as Alibaba prepares to list its cloud-intelligence arm as part of its corporate restructuring.

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Paul Reid
Paul Reid

Paul Reid is a financial journalist dedicated to uncovering hidden fundamental connections that can give traders an advantage. Focusing primarily on the stock market, Paul's instincts for identifying major company shifts is well established from following the financial markets for over a decade.

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