Alibaba (BABA) Stock Rallies on New AI Project to Challenge ByteDance

TLDR Alibaba shares jumped over 4% in Hong Kong after reports emerged that the company is developing “Plan C,” a new AI project designed to compete with ByteDance’s Doubao chatbot. The project is being built by Alibaba’s Quark unit with support from Tongyi Labs, which develops the company’s Qwen large language models and is a [...]

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