Alibaba Group Holding share price surges 7% on unveiling DeepSeek contender

Shares of Alibaba Group Holdings surged 7% on Thursday, March 6 after unveiling a model that the company said performs as well as DeepSeek at just a fraction of the data required.

According to a Bloomberg report, Alibaba, a top Chinese e-commerce company, in 2025 became a key player in China’s artificial intelligence (AI) industry by launching its QwQ-32B model, which outperforms the previous version with only 5% of the parameters used by DeepSeek’s R1 model.