Alibaba leads rally in US-listed Chinese stocks after unveiling AI model

U.S.-listed shares of Chinese companies rise in premarket trading, led by a 9% gain in Alibaba Group Holding BABA.N

BABA unveils largest-ever AI language model, Qwen3-Max, and announces plans to open its first data centers in Brazil, France and the Netherlands as it accelerates its global strategy for artificial intelligence

Company's Hong Kong listing jumps 6.4%, its highest intraday level in nearly four years .SS

U.S.-listed shares of other Chinese companies such as JD.com JD.O and PDD Holdings PDD.O rise 2% and 3.7%, respectively

Gaming company Bilibili BILI.O adds 2.8%, while search engine giant Baidu BIDU.O jumps 4.9%

EV firms Li Auto LI.O up 1.7% and Nio NIO.N up 2%

Social media platform Weibo WB.O climbs 2.6%

Online brokerages Futu Holdings FUTU.O and UP Fintech Holding TIGR.O gain 1.3% and 3.1%, respectively

China ETFs such as IShares MSCI China ETF MCHI.O up 1.9% and KraneShares CSI China Internet ETF KWEB.K up 2.7%, while Direxion China CSI Daily Bull 2X CWEB.K advances 5.3%