Chinese tech and e-commerce giant Alibaba on Wednesday announced the release of Qwen2.5-Max, an advanced artificial intelligence model that the company says outperforms several leading AI systems in key benchmarks.

Stocks rise on bets investors will look for cheaper options after DeepSeek’s popular low-cost AI model sparked a US$1 trillion tech rout.

Marshall Group sells a majority stake in the guitar amp and headphones maker to Hong Kong venture capital firm HongShan Capital Group for $1.1 billion

Hong Kong stocks rallied on Monday, with the Hang Seng Index gaining over 500 points at one point during the afternoon trading session. The index touched a high of 20,093.65 before closing at 19,925.81,

Initiative encouraged schools to leverage cloud and AI technologies and reinforced Alibaba’s commitment to sustainable innovation.

Alibaba Group Holding released on Wednesday an upgraded version of its Qwen artificial intelligence (AI) model, which it said "comprehensively outperformed" in certain benchmark tests DeepSeek-V3, the large language model (LLM) launched in December by China's hottest start-up.

DeepSeek AI live - US stocks bounce back after Nvidia plunge - DeepSeek has caused shockwaves throughout the tech industry - follow for live updates

MILAN (Reuters) - Blue Pool, a Hong Kong-based investment firm backed by Alibaba co-founder Joe Tsai, has bought a 12% stake in Italian luxury sneaker maker Golden Goose, the Venice-based brand said on Tuesday. The investment comes after the maker of $600 a pair sneakers abruptly pulled plans for a stock market listing last year.

The Hong Kong-based family office set up by Joe Tsai, cofounder and chairman of the Alibaba Group, has acquired a 12 percent stake in the Italian company.

Investors dumped technology stocks in premarket trading Monday, sending U.S. indexes sharply lower after Chinese artificial intelligence startup DeepSeek demonstrated a chatbot that it says rivals the top versions from OpenAI and Google for a fraction of the cost.

HongShan Capital Group (HSG), which has acquired a majority interest in the “audio, tech and design powerhouse” at a $1.16 billion (€1.1 billion) valuation. Stockholm-based Marshall and Hong Kong-headquartered HongShan (formerly Sequoia China) quietly announced the acquisition in a brief release.

The same tech companies that have benefitted from the AI frenzy in the past year were getting pummeled before markets even officially opened on Monday.