Alibaba Group Holding Ltd is a leading multinational conglomerate specializing in e-commerce, retail, and technology
The company operates various online marketplaces that connect consumers and businesses, facilitating the sale of goods and services. Beyond e-commerce, Alibaba has diversified its offerings to include cloud computing, digital media, and entertainment, striving to empower businesses with innovative technology solutions. With a strong focus on integrating online and offline experiences, Alibaba continuously evolves its platform to meet consumer demands and optimize supply chain efficiency. The organization's mission is to make it easy to do business anywhere, leveraging its expansive reach to foster global commerce.
Asian markets traded mostly higher on Thursday, following overnight gains on Wall Street after US President Donald Trump delayed tariffs on select automakers.
Alibaba launched new reasoning model comparable to DeepSeek's R1, pledged increased support for AI in China, and committed $53B to cloud and AI infrastructure.
Hong Kong stocks surged Thursday morning, with the Hang Seng Index climbing 2.5% to 24,183.07, reaching its highest level since January 2022 and extending its year-to-date gains to 23.37%.
Wall Street closed higher on Wednesday as investors weighed mixed economic data and awaited former President Donald Trump's decision on possible tariffs. The S&P 500 rose 1.12% to 5,842.63.
Alibaba's Freshippo plans to open 100 new fresh food supermarkets and enter new cities in 2025. This comes after opening 72 stores and entering 21 cities this year. The company's AI expansion and e-commerce growth have led to a positive stock outlook.
