Qwen models and AI applications
AI Labs and Applications revenue rose 16% to RMB3.3 billion, with a widening loss.
The numbers
What it is
Alibaba's in-house Qwen large language models and the AI applications built on them, including the Qwen consumer app. Alibaba links these models to its cloud and commerce businesses, so their value shows up there as well as in direct app revenue.
Why it matters to the stock. Qwen is the model side of the AI bet. Its direct revenue is small, and its adjusted loss is large, so the question is whether it drives cloud demand and commerce traffic.
News
Alibaba unveils Zhenwu V900 AI chip and 20 GW 2032 capacity goal
At the Apsara Conference in Hangzhou on September 22, Alibaba unveiled the Zhenwu V900 AI processor from its T-Head chip unit, which it says delivers three times the performance of the M890 with 216 GB of memory.
Alibaba June quarter: cloud revenue up 45%, net income down 75%
Alibaba reported June-quarter 2026 revenue of RMB268.95 billion, up 9% year over year.
Alibaba makes 2.4-trillion-parameter Qwen3.8-Max generally available
Alibaba moved its Qwen3.8-Max flagship from preview to general availability on August 3, 2026, through Alibaba Cloud Model Studio for global developers.
Alibaba becomes official AI and cloud partner for UEFA club competitions
Alibaba signed a partnership with UEFA covering the Champions League, Europa League and Conference League from the 2027/28 to 2032/33 seasons, plus UEFA EURO 2028.
Alibaba opens its full Taobao and Tmall catalog to the Qwen AI app
Alibaba connected its Qwen app to the full Taobao and Tmall catalog of more than 4 billion products, so users can shop by conversation, compare items and place orders.
Alibaba releases Qwen3.6-Max-Preview as a proprietary hosted model
Alibaba released Qwen3.6-Max-Preview on April 20, calling it its most capable model so far and an early preview that it will keep improving.
Alibaba commits 3 billion yuan to Qwen app Spring Festival push
Alibaba pledged 3 billion yuan (about $432 million) to promote its Qwen chatbot during the Lunar New Year holiday, with the campaign starting February 6.