HK Stock Market Move | BABA-W(09988) rose more than 3% in the afternoon, reports say Alibaba has secretly launched the "Thousand Questions" project to fully benchmark ChatGPT.

BABA-W (09988) rose more than 3% in the afternoon with heavy volume, with the stock price up 3.44% to HK$162.2 as of the time of writing, with a turnover of HK$11.802 billion. According to reports from the Sci-tech Board Daily, Alibaba has secretly launched the "Thousand Questions" project, creating a personal AI assistant app named Thousand Questions APP based on the Qwen model. This app is set to compete with ChatGPT in the global AI application industry. Alibaba's core management considers this as the "future battle of the AI era" and hopes to win the competition by leveraging the open-source technology advantage of Qwen. The report states that this is another important deployment of Alibaba's AI strategy after announcing a $380 billion investment in AI infrastructure earlier this year. Previously, Alibaba had focused on the B-side AI market, providing model API services to various industries through Alibaba Cloud. With the excellent performance and international influence of Qwen, Alibaba's management believes that the time is now ripe to start the battle on the C-side with Thousand Questions.