0903 GMT - Alibaba's new QwQ reasoning model demonstrates its ability to capture opportunities in the AI era, say Citi analysts in a research note. The launch of QwQ reflects Alibaba's continued progress and advancement in deep reasoning, especially in math understanding, coding and AI agents, the analysts say. QwQ will likely benchmark against other deep reasoning models released by peers, such as DeepSeek-R1 and Moonshot AI's Kimi, the Citi analysts say. Given Alibaba's recent pledge to spend 380 billion yuan on AI investments over the next three years, Citi thinks the company is committed to capture AI opportunities at an accelerated pace. The bank keeps a buy rating on the stock with a target price of HK$166.00. Shares last closed at HK$130.60. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

February 25, 2025 04:03 ET (09:03 GMT)

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