Hong Kong CNN —
Chinese tech giant Alibaba unveiled its latest artificial intelligence reasoning model on Thursday, boasting that its capabilities beat rivals like OpenAI and startup DeepSeek.
The news prompted Alibaba’s Hong Kong-listed shares to close 8% higher and helped boost the Hang Seng’s China Enterprises Index.
Alibaba touted its new model, QwQ-32B, in an online statement as delivering “exceptional performance, almost entirely surpassing OpenAI-o1-mini and rivaling the strongest open-source reasoning model, DeepSeek-R1.” OpenAI-o1-mini is the American company’s cost-efficient reasoning model released last year.
Alibaba added the model has achieved a “qualitative
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