Alibaba's New Qwen App Smashes 10 Million Downloads In A Week — And Sends Its Stock Soaring: Analysts See Clear Path To China's Next AI-Era WeChat - Alibaba Gr Hldgs (NYSE:BABA), Apple (NASDAQ:AAPL)

Alibaba Group Holdings' (NYSE:BABA) newly revamped Qwen app is off to a blistering start, crossing 10 million downloads in its first week.

Qwen's Breakout Launch Sends Alibaba Shares Higher

On Monday, Alibaba Group's social media handle of X, formerly Twitter, shared that its Qwen app surpassed 10 million downloads within seven days of its public beta launch.

After the company disclosed the milestone, its Hong Kong–listed shares climbed more than 5%.

The surge follows Alibaba's decision to unify and rebrand its earlier AI offerings — including the Tongyi app and AI features in its Quark browser — under the Qwen name.

The refresh appears to have delivered what previous efforts could not: rapid mainstream traction.

Analysts See Potential AI ‘Super-App' For China

During its second day of beta testing, Qwen quickly climbed into the top five free apps on Apple Inc.'s (NASDAQ:AAPL) App Store in mainland China and Hong Kong.

Analysts previously said that the momentum positions Alibaba to build what some are calling China's WeChat for the AI era, echoing Tencent Holdings' (OTC:TCEHY) dominance in the mobile era.

Competitive Pressures Remain High

Despite the strong start, Alibaba faces stiff competition from low-cost challengers like DeepSeek, whose aggressive pricing has triggered an industrywide cost battle.

Still, Alibaba's broader AI push — contributing to an 87% year-to-date stock gain in Hong Kong — has injected renewed confidence among investors betting on its long-term strategy.

Benzinga’s Edge Stock Rankings indicate that while Alibaba's short-term price trend has eased, the company still shows solid growth prospects over the medium and long term. Click here to see how it compares with its peers.