Alibaba's AI push gains more Wall Street confidence

Analysts point to updates to Alibaba's Qwen app and momentum at Alibaba Cloud as reasons for renewed confidence. The article mentions the Qwen app now handles over 400 daily tasks and reached 100 million monthly users.

Alibaba is drawing increased attention from Wall Street as analysts highlight recent AI developments. The focus is on the Qwen app's deeper integration with the company's services and continued momentum at Alibaba Cloud. Analysts describe these moves as a shift from simple chat tools toward AI that completes tasks. This coverage reflects how the company’s AI work is being framed in market commentary. Key points: - The article mentions Jefferies analyst Thomas Chong reaffirmed a Buy rating and a $225 price target. - The article mentions Morgan Stanley analyst Gary Yu kept an Overweight rating and a $180 price target. - The article mentions the Qwen app now integrates with Taobao, Alipay, Fliggy and Amap, enabling shopping, payments, travel planning and food orders in one place. - The article mentions the Qwen app can handle over 400 daily tasks and reached 100 million monthly users in about two months. - The article mentions Alibaba Cloud has momentum with business customers using AI models and computing services, and that Alibaba stock carries a Strong Buy consensus based on 13 Buy ratings and one Hold, with an average price target of $203.66. Summary: Analysts view the Qwen updates and cloud traction as signs Alibaba is moving toward task-capable AI. The article mentions analysts expect further gains in user activity and steady cloud growth, while higher spending to attract users could weigh on near-term profits. Undetermined at this time.