On November 2, Alibaba rose 3.2% Overnight, trading at $101.18 per share, with turnover of $8.363 million.

The move followed recent confirmation that Apple will integrate Alibaba's Qwen into Apple Intelligence for users in China, enabling Qwen-powered text and image understanding and content generation in Siri, Writing Tools, and Visual Intelligence.

According to the company disclosures, developer beta testing is set to begin on November 4, with a broader rollout planned in December alongside iOS 27.3. Alibaba also said user requests and generated responses will not be used for model training. Separately, Citi said Alibaba is positioned to benefit from the cooperation and maintained a Buy rating with a $193 target price, reinforcing the positive market reaction.

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