BABA is trading at $168.11 (+3.13%) as reports of its new RynnBrain initiative position the company in the robotics AI race alongside Nvidia and Google.
- Alibaba is significantly outperforming a mixed market where the S&P 500 is down 0.01% and the Nasdaq has fallen 0.21%.
- Positive momentum is bolstered by recent AI chatbot promotions and analyst buy ratings, helping the stock shrug off technical issues involving the Qwen model yesterday.
- The rally aligns with broader AI hype in the Chinese technology sector, as the market looks past outdated earnings report expectations.