Zinger Key Points
- Alibaba debuts revamped Quark app with Qwen AI, offering tools like chat, image-based writing, and meeting summaries.
- Amid China’s AI price war, Alibaba slashes model costs by up to 97% and commits $53B to AI and cloud expansion.
- The new Benzinga Rankings show you exactly how stocks stack up—scoring them across five key factors that matter most to investors. Every day, one stock rises to the top. Which one is leading today?
On Thursday, Alibaba Group Holding BABA introduced a new version of its artificial intelligence assistant mobile app Quark, incorporating its latest in-house model.
Quark marks Alibaba's debut as general user-facing platform to integrate its proprietary Qwen-based advanced reasoning models, Alizila reports.
Bloomberg cites a company statement as stating that the service is based on an Alibaba web browser and can write articles from pictures and generate meeting minutes.
Also Read: Alibaba, Grab, Tencent, Meituan Gear Up For Growth As China Bets On Services To Revive Economy
The Chinese e-commerce juggernaut restructured the Quark app to leverage its flagship Qwen reasoning model. The app now integrates functions like a chatbot and deep thinking.
On Wednesday, Alibaba launched an R1-Omni model that said it could read emotions.
Chinese companies remain in a price war to win market share, prompting Alibaba Cloud to initiate discounts on its visual language model, Qwen-VL. Jack Ma's co-founded company slashed its Qwen AI model prices by up to 97% in May.
Recently, Alibaba Chairman Joe Tsai told CNBC that AI's total addressable market is at least $10 trillion. Over the next three years, Alibaba committed $53 billion to cloud and AI infrastructure to tap the AI frenzy.
Alibaba began its spring hiring season with 3,000 internship openings, half of which were in artificial intelligence. The move coincided with DeepSeek's AI model price war, offering discounted off-peak pricing for developers.
Price Action: BABA stock is up 0.52% at $137.85 at last check Thursday.
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