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Investing.com-- Alibaba Group (HK:9988) shares jumped on Monday after its revamped consumer AI app, Qwen, registered a very strong start in public beta, sparking fresh investor optimism about its push into the generative-AI market.
The app logged more than 10 million downloads in the week following its relaunch, according to the company’s WeChat blog post.
Hong Kong-listed shares of the company climbed as much as 6% to HK$156.3 as of 06:45 GMT.
In a statement published last week, Alibaba said the Qwen chatbot -- powered by its advanced Qwen large language model -- is now available via mobile and web, with international rollout planned later.
The app, which can generate complex research reports and multi-slide PowerPoint presentations from a single prompt, was described by the company as “the best personal AI assistant with the most powerful model.”