Alibaba Group Holding’s cloud unit announced that its flagship AI model family, Qwen, surpassed 700 million downloads. This makes Qwen the most widely used open-source AI system globally.
Data from the developer platform Hugging Face confirmed the milestone. Alibaba credits its strategy of offering a wide range of model sizes to the open-source community for the success.
The news prompted a positive market reaction. Alibaba’s stock gained over 5% in Hong Kong trading on Monday.
This achievement reinforces the growing importance of the company's AI and cloud computing divisions as key drivers for future growth. Analysts echo this sentiment, even while adjusting some short-term earnings expectations.