Alibaba rose more than 1% in pre-market trading, management optimistic about the development of generative AI

Zhitong
2024.09.20 08:33

Alibaba's US stocks rose more than 1% in pre-market trading, reaching $89.4. On the news front, at the 2024 Yunqi Conference, Alibaba Cloud released the new generation open-source model Qwen2.5, covering a full range of large language models, multimodal models, mathematical models, and code models in various sizes, with a total of over 100 models launched. Among them, the flagship model Qwen2.5-72B outperforms Llama 405B in performance.

CICC published a research report stating that Alibaba's management team expressed optimism about the development of generative AI at the Alibaba Cloud Yunqi Conference. The bank believes that the opportunities in generative AI will help widen the gap between Alibaba Cloud and traditional cloud vendors. Alibaba Cloud has competitive advantages in high-end computing chip layout, software technology capabilities, algorithm applications, etc.

The forward-looking development of large model technology, leading the transformation of cloud computing industry, can leverage the company's leading role, driving companies to embrace AI and also serving as an important driver for the recovery of Alibaba Cloud's growth rate. The bank maintains the group's "outperform industry" rating with a target price of HKD 109

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