This article first appeared on GuruFocus.
Alibaba (NYSE:BABA) climbed after the company said its relaunched AI chatbot, Qwen, drew more than 10 million downloads in its first week and reached the top three on Apple (AAPL)’s App Store in China.
Alibaba’s U.S.-listed ADRs jumped about 4% in premarket trading, while futures tracking the Nasdaq 100 and S&P 500 were marginally higher.
The company said Qwen has become one of the fastest-growing AI applications to date and highlighted the download tally as evidence of sustained consumer interest in AI tools.
Some market observers said the early uptake may help temper worries about an AI bubble and could be read positively for peers such as Nvidia (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG).
Analysts warned that initial downloads do not ensure lasting engagement, noting conversion rates and daily active users will determine commercial prospects.
Alibaba described the rollout as a key step in moving foundational AI models into everyday consumer applications and stressed Qwen remains in public beta.
