Alibaba Group Holding Ltd. will invest $431 million in marketing and incentives to boost the Qwen AI app during the Lunar New Year. This push seeks to accelerate user acquisition and solidify its AI position.
The broader strategy includes releasing the new open-source coding model, Qwen3-Coder-Next. This model aims to challenge proprietary systems.
The significant spending drew a mixed investor reaction. Some investors expressed caution that the substantial promotional expenses could pressure near-term profit margins.
Alibaba Chairman Joseph Tsai spoke at the World Governments Summit. He advocated for open-source AI models to ensure national data sovereignty.