Movement Alert｜Alibaba Rises 3.27% Overnight, Qwen AI Model Enters Deep Testing Phase in Tesla China Vehicles

Market Focus

Aug 03

On August 3, Alibaba rose 3.27% overnight, trading at $125.98/share, with turnover of $13.64 million.

On the news front, multiple sources revealed that Alibaba's Qwen large language model has entered a deep testing phase within Tesla's China in-car system, featuring voice interaction, vehicle control, and navigation capabilities, with deployment imminent. The collaboration reportedly goes beyond a simple app integration, involving model-level deep technical cooperation within the vehicle's onboard system.

Additionally, Microsoft's latest quarterly earnings showed cloud revenue growth exceeding 40% year-over-year with capital expenditure below expectations, driving a broad revaluation of global cloud computing and tech platform stocks. UBS also recently raised its target price on Alibaba while maintaining a positive rating, forecasting second-quarter revenue growth of 9% year-over-year.

Within the Broadline Retail sector, Amazon up 1.23%, eBay up 0.70%, MercadoLibre up 0.38%, Sea Ltd up 0.28%, PDD Holdings down 0.17%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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