It reflects the broader competitiveness of China’s frontier AI ecosystem,” says Scott Singer, a visiting scholar in the Technology and International Affairs Program at the

Alibaba Cloud on Thursday launched QwQ-32B, a compact reasoning model built on its latest large language model (LLM), Qwen2.5-32b, one it says delivers performance comparable to other large cutting edge models, including Chinese rival DeepSeek and OpenAI’s o1, with only 32 billion parameters.

Hong-Kong listed shares (HK:9988) jumped over 8% today, after the company launched its new open-source AI (artificial intelligence) model, which challenges DeepSeek’s R1 model. Alibaba’s AI unit, Qwen,

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’s Hong Kong shares surged 74% in 2025, driven by AI expansion, strong earnings, and renewed government support. Its QwQ-32B model challenges DeepSeek, fueling China’s tech rally. Despite economic uncertainties,

Chinese e-commerce and tech giant Alibaba on Thursday unveiled a new artificial intelligence (AI) model, which it claims can rival DeepSeek to solve complex problems, but is better because it uses far less data for its operationsIt said that its new compact reasoning model QwQ-32B is "comparable" to other larger cutting edge models such as OpenAI's o1-mini.