On July 31, Alibaba rose 3.2% in regular trading, trading at $119.87/share, with turnover of $361 million. Multiple news catalysts converged to drive the stock higher.

On the news front, multiple sources revealed that Alibaba's Qwen large language model has entered a deep testing phase for Tesla China's in-car system. The integration encompasses voice interaction, vehicle control, navigation, and task execution capabilities, with deployment imminent. Notably, the collaboration is not a simple app integration but involves deep-level technical cooperation including model embedding within the vehicle's onboard system. Neither Alibaba nor Tesla has officially commented on the matter.

Additionally, Microsoft's latest quarterly earnings showed cloud revenue growth exceeding 40% year-over-year with capital expenditure below expectations, driving a revaluation of global cloud computing and tech platform stocks. UBS also recently raised Alibaba's target price while maintaining a positive rating, projecting second-quarter revenue growth of 9% year-over-year. Within the Broadline Retail sector, Amazon surged 13.83%, JD.com rose 0.77%, PDD Holdings gained 0.22%, Sea Ltd added 0.17%, while MercadoLibre dipped 0.26%.

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