Alibaba Rises After Qwen AI App Surpasses 10 Million Downloads

Alibaba (BABA) traded 3.5% higher in premarket trading after announcing that its relaunched Qwen AI app achieved more than 10 million downloads within a single week, according to Bloomberg. The rapid user adoption underscores the company’s aggressive pivot toward AI under CEO Eddie Wu.

Qwen’s Relaunch Gains Momentum

Alibaba recently streamlined its AI offerings under a single brand — Qwen — as part of its broader restructuring. Key highlights:

Over 10 million downloads in 7 days
Plans to integrate agentic AI features to enhance Taobao and other core platforms
Supports Alibaba’s repositioning as an AI-first business

AI Strategy Ahead of Earnings

The company is set to report third-quarter earnings on Tuesday, where investors expect deeper insights into:

Qwen’s performance and user engagement
Monetization opportunities within Alibaba’s ecosystem
The broader AI roadmap under the new corporate strategy

Rising AI Competition in China

Alibaba’s strong Qwen debut mirrors rapid uptake seen across the Chinese AI landscape:

Ant Group’s multimodal AI assistant LingGuang surpassed 1 million downloads in four days
Domestic AI tools have surged partly because OpenAI’s ChatGPT remains unavailable in China

Market Reaction

Alibaba (BABA) shares rose 3.5% premarket on the strong early traction of Qwen.
Investors view the rapid adoption as a positive indicator for Alibaba’s AI-led growth pivot.