What's Going On With Alibaba Stock Thursday?

Alibaba Group Holding Limited BABA stock is trading higher Thursday amid reports of the company's cloud computing unit launching two open-sourced artificial intelligence (AI) models to take on Meta Platforms Inc META.

Alibaba Cloud looks to open-source two large language models (LLM), a type of AI model, named Qwen-7B and Qwen-7B-Chat on Thursday, Reuters cites a press release.

Also Read: Alibaba's Recent AI Initiatives

Each model has 7 billion parameters, often used to measure strength. Meta showcased a similar open-sourced model named Llama 2 in July.

Meta said its LLMs were "open-source," implying the public release of details of the new model in stark contrast with the approach of competitors like OpenAI. 

CEO Mark Zuckerberg and others have hinted at a push towards creating multiple AI chatbots for individuals, advertisers, and businesses across Meta platforms Instagram, WhatsApp, and Facebook, powered by its LLMs. 

However, just as Chinese companies took a sigh of relief from the regulatory crackdown on technology companies, the Cyberspace Administration of China (CAC) slapped youth's smartphone usage restrictions.

On Wednesday, China's cyberspace regulator said that children below 18 should be limited to a maximum of two hours daily on their smartphones, Reuters reports.

Users aged 16 - 18 would be allowed two hours a day, children aged 8 - 16 would get one hour, while children under 8 would be allowed just eight minutes.

Price Action: BABA shares traded higher by 2.10% at $97.07 on the last check Thursday.

Photo by Fooksou Lamimo via Wikimedia Commons