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BABA-W Rebounds 5%+; Tongyi Model Said to Undergo Major Revamp
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BABA-W (09988.HK) is preparing to make the functionalities of its Tongyi model more akin to OpenAI's ChatGPT with a major revamp of its applications in the coming months, Bloomberg reported, citing sources. Stimulated by the report, BABA-W managed to reverse its decline. It last traded at HKD165.5, up 5.55%, with a volume of 96.0661 million shares, involving HKD15.138 billion. It is understood that BABA-W is planning to first roll out an update of the existing Tongyi applications on iOS and Android platforms and rename them as Qwen. Taobao and other platforms will gradually integrate AI agent functionalities over the coming months to enrich users' shopping experience. BABA-W's ultimate goal, as revealed by the sources, is to develop Qwen into a fully functional AI agent, with plans to launch an overseas version of it. AAStocks Financial News |
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