Chinese ADRs jumped in overnight trading. Alibaba soared 8%; Baidu up 4%; Bilibili, JD.com up 3%; NIO, PDD up 2%; Li Auto, iQiyi, Kingsoft Cloud, Pony AI up over 1%.

Alibaba unveiled its open source large language model called Qwen3-Omni, which can process text, images, audio, and video.

The model can process text, images, audio, and video but delivers real-time streaming responses in text and natural speech.

"Introducing Qwen3-Omni — the first natively end-to-end omni-modal AI unifying text, image, audio & video in one model — no modality trade-offs," said Alibaba's Qwen in a post on X, formerly Twitter.

Qwen3-Omni supports text interaction in 119 languages, speech understanding in 19 languages, and speech generation in 10 languages, according to a blog post by the company.