Alibaba Shares Surge on the Back of Artificial Intelligence

Apple Receives Approval to Launch Apple Intelligence in China in Partnership with Alibaba

Shares of Alibaba and Baidu surged after Apple received regulatory approval to launch its Apple Intelligence service in China, a long-awaited development that opens up the world's largest smartphone market for the company.

This move follows the approval by Chinese authorities of Apple's generative artificial intelligence services, which will be based on Alibaba's Qwen model alongside Baidu's AI technologies, as part of a partnership aimed at adapting the service to local regulatory requirements.

The launch of Apple Intelligence is expected to give Apple a competitive edge in the Chinese market, where the lack of AI capabilities has been a weakness compared to local rivals like Huawei and Xiaomi. This has also positively impacted the shares of its AI partners.

Apple Receives Approval to Launch Apple Intelligence in China in Partnership with Alibaba   Shares of Alibaba and Baidu posted strong gains after Apple received regulatory approval to launch Apple Intelligence in China, a long-awaited development that opens up the world’s largest smartphone market to the company. This move came after Chinese authorities approved Apple’s generative AI services, which will rely on Alibaba’s Qwen model alongside AI technologies from Baidu, as part of a partnership aimed at adapting the service to local regulatory requirements. The launch of Apple Intelligence is expected to give Apple a competitive edge in the Chinese market, as the lack of AI features had previously been a weakness against local competitors such as Huawei and Xiaomi, which has had a positive impact on the stock prices of its AI partners.