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Alibaba shares surge on report of AI project to rival ByteDance’s Doubao

AuthorAmbar Warrick
Published 21/10/2025, 05:56
© Reuters
HK50
0.74%
BABA
1.63%
9988
2.25%

Investing.com-- Alibaba Group (NYSE:BABA) shares rallied in Hong Kong trade on Tuesday after local media reported the company is developing an artificial intelligence project aimed at rivaling offerings from tech major ByteDance.

Alibaba (HK:9988) rose as much as 4.2% to HK$169.0, and was among the biggest boosts to the Hang Seng index, which added 1.7%. 

Chinese media outlet Sina Tech reported that Alibaba’s Quark unit is developing a new initiative aimed at developing conversational AI products. The project, dubbed “Plan C,” could be intended to directly challenge ByteDance’s AI chatbot Doubao. 

Plan C is being developed by Quark’s core team with support from Alibaba’s Tongyi Labs, with the latter being at the heart of Alibaba’s AI development efforts.

Tongyi has developed all of Alibaba’s flagship Qwen large language models, and is also among the top Chinese LLMs in the market. 

The unit is neck-to-neck with ByteDance, which is also among the biggest AI developers in China through its Doubao platform. 

 

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