Alibaba announced new spending of more than 380 billion yuan on AI infrastructure and unveiled the Qwen3-Max model. Shares rose to a 4-year high.

Alibaba invests more in AI: shares at a 4-year peak

Alibaba plans to increase spending on artificial intelligence beyond the 380 billion yuan ($53 billion) announced in February for three years. CEO Eddie Wu stressed that the pace of industry development and demand for infrastructure have exceeded expectations.

Qwen3-Max and business growth

At a conference in Hangzhou, the company unveiled its own large-scale language model Qwen3-Max and other AI solutions. Alibaba aims to become a “full-fledged AI service provider,” offering models and platforms as a service to customers.

Results and Market Reaction

The AI ​​direction is already delivering significant results for the company: in the second quarter, cloud sales increased by 26%, exceeding forecasts, and AI-based products showed triple-digit growth. Investors responded with rapid demand, with Alibaba shares rising 7.2% in Hong Kong, renewing their highest in almost four years.