Alibaba Shares Rise as Apple Selects Qwen AI for China

Alibaba Group Holdings Limited saw its shares rise 4.8% to a high of $121.22 during mid-day trading on July 15, 2026. The rally followed news that Apple approved the launch of Apple Intelligence in China, selecting Alibaba's Qwen AI to power the features in that market.

Investors reacted positively to the partnership, which is expected to accelerate the adoption of Alibaba's AI models and cloud services. The momentum aligns with recent growth for Qwen AI, which has surpassed 100 million monthly active users, and a broader market rotation toward reasonably priced stocks with viable AI initiatives.

Despite the rally, the company continues to manage several headwinds. Alibaba faces ongoing securities class-action investigations and a recent financial period where heavy investments in quick commerce and technology nearly wiped out its adjusted earnings. Previous investor caution has also been fueled by geopolitical uncertainty and periods of single-digit growth.