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The partnership with Apple will enable Qwen to reach a stable user base of hundreds of millions through Apple devices, which not only provides a large-scale scenario for Alibaba's AI technology, but accelerates its AI technology penetration into the consumer end, further more increasing Alibaba's leverage to seize market share with competitors.
The cooperation between Apple and Alibaba is also a self rescue action to solve their respective difficulties. Based on this, the market responded to the news quite positively.
After the news came out, Apple's US share closed up 2.2% on Feb12, Alibaba's Hong Kong share closed up 8.48% on Feb13 , surged 9.2% on Feb14, and narrowed its closing gains to 3.04%, with a market value of around HKD 2.3 trillion.
According to the latest financial report released by Alibaba, revenue increased by 8%, net profit increased by 333%, and operating profit increased by 83%; Alibaba Cloud's revenue grow by 13% to RMB31.7 billion boosted by AI, returning to double-digit growth, the biggest growth rathe in about two years. On February 21, Hong Kong stock Alibaba rose sharply, up more than 14%, closing at HK$138, with a market value of more than HK$2.63 trillion
In fact, the market's sentiment towards Alibaba showed a significant change in January this year. Alibaba's Hong Kong share quickly rose after hitting an annual bottom on January 13 and surged 58% in the following month, surpassing the 25% increase of the Hang Seng Technology Index during the same period, which has signaled the important inflection point for Alibaba. Alibaba also revealed that it will release a deep inference model in the near future, and that the infrastructure investment in cloud and AI in the next three years is expected to exceed that of the past decade combined. In the increasingly crowded AI industry, the significance of Alibaba's partnership with Apple lies not only in the expansion of Alibaba's AI model in consumer scenarios, but more importantly, in the construction of Alibaba's market recognition as a leader in AI models. In this sense, the partnership with Apple will make Alibaba be the great game changer.Complete digital access to quality Glebors financial topic with expert analysis from industry leaders.
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