**Alibaba Group (NYSE: BABA) shares surged over 10% on Monday** as positive developments emerged in both commerce and cloud computing sectors. A report from AIBase indicated that Alibaba’s Qwen AI models have been downloaded more than 700 million times, potentially establishing them as the most popular open-source AI models globally, outpacing competitors like OpenAI and Meta Platforms. Additionally, the company reported a 34% year-over-year revenue increase in its cloud division, reaching $5.6 billion for the quarter ending September 30.
Furthermore, Alibaba’s stock price benefited from reports suggesting a shift in regulatory pressure in China’s food-delivery industry, which could enhance profit margins for larger enterprises by imposing higher compliance costs that smaller companies may struggle to absorb. This could further solidify Alibaba’s competitive position in the market.
