Artificial intelligence (AI) models are computer programs trained on large datasets to perform tasks that typically require human intelligence. Alibaba Group Holding Ltd. is a Chinese multinational technology company specializing in e-commerce, retail, and technology. DeepSeek is another AI company with a leading AI model. - Alibaba's Hong Kong-listed shares experienced a significant surge following the unveiling of its new AI reasoning model, QwQ-32B. - The QwQ-32B model is claimed to have comparable performance to DeepSeek's R1, despite using significantly less data. - The launch of the new AI model has boosted investor confidence in Alibaba and contributed to a broader rally in Chinese tech stocks. - Alibaba's stock reached a 52-week high after the announcement, reflecting positive market sentiment.