BUZZ-Alibaba's US-shares rise after launch of AI model co says outperforms DeepSeek

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BUZZ-Alibaba's US-shares rise after launch of AI model co says outperforms DeepSeek

Reuters01-29

BUZZ-Alibaba's US-shares rise after launch of AI model co says outperforms DeepSeek

** U.S.-listed shares of China tech giant Alibaba Group BABA.N rise 2.7% to $98.60 in premarket trading

** Co releases new version of its Qwen 2.5 artificial intelligence model, claims model surpasses highly-acclaimed DeepSeek-V3

** Co says model outperforms advanced AI models from DeepSeek, OpenAI and Meta Platforms META.O

** DeepSeek's AI assistant launch sparked major selloff in global tech shares, as its supposedly lower development and usage costs hit stocks of rivals and semiconductor firms

** Alibaba's cloud unit previously slashed prices on a range of AI models after the release of DeepSeek-V2 last May

** Chinese markets closed for Lunar New Year holiday

** BABA shares up over 13% this month

(Reporting by Lisa Mattackal)

((LisaPauline.Mattackal@thomsonreuters.com;))

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Toby_Chua
·01-30
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19:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Alibaba's US-shares rise after launch of AI model co says outperforms DeepSeek </title></head><body><p>** U.S.-listed shares of China tech giant Alibaba Group <span>BABA.N</span> rise 2.7% to $98.60 in premarket trading </p><p>** Co releases new <span>version</span> of its Qwen 2.5 artificial intelligence model, claims model surpasses highly-acclaimed DeepSeek-V3</p><p>** Co says model outperforms advanced AI models from DeepSeek, OpenAI and Meta Platforms <span>META.O</span> </p><p>** DeepSeek's AI assistant launch sparked major selloff in global tech shares, as its supposedly lower development and usage costs hit stocks of rivals and semiconductor firms </p><p>** Alibaba's cloud unit previously slashed prices on a range of AI models after the release of DeepSeek-V2 last May </p><p>** Chinese markets closed for Lunar New Year holiday </p><p>** BABA shares up 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