Alibaba Group’s shares surged over 8% after unveiling a new AI reasoning model called QwQ-32B. The model, comparable to DeepSeek’s R1 despite having fewer parameters, showcases capabilities in mathematical reasoning, coding, and problem-solving. This development aligns with China’s increased support for AI industries. Alibaba’s AI unit announced the model is accessible via its Qwen Chat service. The news comes as Chinese companies race to advance AI technology, with startups like Monica also releasing innovative AI agents.