Chinese tech giant Alibaba unveiled its latest artificial intelligence reasoning model on Thursday, boasting that its capabilities beat those of rival models from OpenAI and startup DeepSeek.

Hong-Kong listed shares (HK:9988) jumped over 8% today, after the company launched its new open-source AI (artificial intelligence) model, which challenges DeepSeek’s R1 model. Alibaba’s AI unit, Qwen,

Alibaba Cloud on Thursday launched QwQ-32B, a compact reasoning model built on its latest large language model (LLM), Qwen2.5-32b, one it says delivers performance comparable to other large cutting edge models, including Chinese rival DeepSeek and OpenAI’s o1, with only 32 billion parameters.

Alibaba shares were rising after the Chinese firm said the latest version of its Qwen AI was comparable with DeepSeek’s R1 that shocked the world in January.

The model, which was released on open source outperformed DeepSeek's R1, which boasts 671 billion parameters, in areas such as mathematics, coding and general problem-solving

Chinese multinational technology company Alibaba launched its artificial intelligence reasoning model on Thursday, Mar. 7, boasting that the AI model's capabilities beat DeepSeek and OpenAI. Read More

B, its latest artificial intelligence reasoning model, claiming it outperforms OpenAI and Chinese startup DeepSeek. Following the announcement, Alibaba's Hong Kong-listed shares closed 8% higher, boosting the Hang Seng China Enterprises Index.

New AI contender. Chinese companies are continuing to make big strides in artificial intelligence, as Alibaba unveiled its latest reasoning model with fewer parameters than existi