据悉，Qwen模型将为千问App和夸克提供AI服务的底层保障。自2023年全面开源以来，Qwen已超越 Llama、Deepseek成为全球应用最广泛的开源大模型。截至目前，Qwen系列模型的全球下载量已突破6 亿次。（文猛） 新浪科技讯 11月18日下午消息，阿里巴巴千问App开启公测第二天，夸克App也宣布接入千问对话助 手。用户在夸克App右滑，即可使用千问App的对话能力。 据内部人士透露，夸克的定位是AI浏览器，将与千问App形成战略协同。夸克PC端也将迎来重大版本升 级，推出全新的 AI 浏览器，与千问深度结合。 责任编辑：何俊熹 ...

Group 1 - The core viewpoint of the report is that Alibaba's strong execution, business synergy, and comprehensive technology product system position it as a key beneficiary in the AI sector, reaffirming it as a preferred stock with a "buy" rating [1] - Alibaba has launched its flagship AI application "Qianwen APP," which serves as its official AI assistant, featuring dialogue Q&A, intelligent writing, and multi-modal camera functions, providing a competitive advantage over ChatGPT's third-party application integration [1] - According to Omdia, the AI cloud market in China reached 22.3 billion RMB in the first half of this year, with Alibaba holding a 35.8% market share, indicating that new consumer initiatives will drive long-term revenue growth [1] Group 2 - Alibaba is set to announce its Q2 2026 earnings on November 25, with expectations of a 3.6% year-on-year revenue growth, primarily driven by incremental contributions from instant retail [2] - Customer management revenue (CMR) is projected to grow by 10% year-on-year, remaining consistent with the previous quarter [2] - Instant retail revenue is expected to reach 26.9 billion RMB, reflecting an 83% year-on-year increase, while cloud and international e-commerce businesses are anticipated to grow by 26% and 19% year-on-year, respectively [2] - The adjusted EBITDA for the group is expected to decline by 61% year-on-year to 15.9 billion RMB, with non-GAAP net profit projected to decrease by 54% to 16.8 billion RMB [2]

Group 1 - The core viewpoint of the report is that Alibaba's strong execution, business synergy, and comprehensive technology product system position it as a key beneficiary in the AI sector, reaffirming it as a preferred investment with a "buy" rating [1] - Alibaba has launched its flagship AI application, "Qianwen APP," which is described as the "most powerful official AI assistant" with features like conversational Q&A, intelligent writing, and a multi-modal camera [1] - The report highlights that Alibaba's self-built ecosystem and free strategy provide a competitive advantage over ChatGPT's third-party application integration, with a focus on monitoring daily active user (DAU) growth in the short term [1] Group 2 - Alibaba is expected to announce its Q2 2026 earnings on November 25, with projected revenue growth accelerating to 3.6% year-on-year, primarily driven by incremental contributions from instant retail [2] - Customer management revenue (CMR) is anticipated to grow by 10% year-on-year, remaining consistent with the previous quarter [2] - Instant retail revenue is expected to reach 26.9 billion RMB, reflecting an 83% year-on-year increase, while cloud and international e-commerce businesses are projected to grow by 26% and 19% year-on-year, respectively [2] - The adjusted EBITDA for the group is forecasted to decline by 61% year-on-year to 15.9 billion RMB, with non-GAAP net profit expected to decrease by 54% year-on-year to 16.8 billion RMB [2]

本报讯 （记者梁傲男）11月18日，阿里巴巴新推出的AI应用千问APP，在公测上线次日便迅速冲入苹 果App Store免费应用总榜第四位，排名超越DeepSeek。其火爆人气一度导致服务器拥堵，"阿里巴巴千 问崩了"的话题登上热搜，官方则以"我好着呢"幽默回应，侧面印证了其公测首日的火热流量。 阿里方面表示，千问APP的战略目标是打造未来的"AI生活入口"，成为一个"会聊天能办事"的个人AI助 手。除了智能对话，"能办事"将是其核心发力点。目前，千问已能实现一句指令生成PPT等复杂任务， 并在实盘投资大赛中战胜过全球顶级模型。据透露，阿里计划将地图、外卖、订票、办公等各类生活场 景全面接入千问，构建更强大的办事能力。 千问APP的底气源于阿里Qwen系列开源大模型的强大性能和广泛影响力。自2023年全面开源以来， Qwen模型全球下载量已突破6亿次。近期发布的旗舰模型Qwen3-Max，在性能上已超过GPT-4、Claude 3 Opus等国际顶尖模型。 此次发布标志着阿里正全力进军AI to C市场。11月17日，阿里巴巴正式宣布"千问"项目，并将其视 为"AI时代的未来之战"。千问APP主打免费，并计划 ...

每经AI快讯，11月18日，港股科技股普遍承压，截至发稿，金山软件(03888.HK)跌2.53%，报30.8港 元；腾讯控股(00700.HK)跌2.2%，报622.5港元；阿里巴巴-W(09988.HK)跌0.13%，报154.7港元。 ...

科技股普遍承压，截至发稿，金山软件(03888)跌2.53%，报30.8港元；腾讯控股(00700)跌2.2%，报622.5 港元；阿里巴巴-W(09988)跌0.13%，报154.7港元，早盘一度涨超2%。 消息面上，隔夜美股市场再遭猛烈抛售，其中大型科技股多数下跌。有分析称，目前投资者正在更加深 入地审视人工智能热潮的基本面。近几周来，对于科技股估值过高的担忧情绪一直主导着市场。此外， 美联储持续释放"鹰派"信号，增加12月潜在降息的不确定性。据悉，利率期货市场对美联储12月降息25 个基点的预期从之前的70%下降至40%。 东吴证券认为，港股科技短期仍在调整。自10月初开始，美股AI泡沫叙事再起，叠加近期产业缺乏新 催化剂，港股AI科技类股票上涨动能不足。英伟达财报临近，市场仍在等待信号。该行认为从中长期 看当前位置港股科技吸引力凸显。 ...

智通财经APP获悉，科技股普遍承压，截至发稿，金山软件(03888)跌2.53%，报30.8港元；腾讯控股 (00700)跌2.2%，报622.5港元；阿里巴巴-W(09988)跌0.13%，报154.7港元，早盘一度涨超2%。 东吴证券认为，港股科技短期仍在调整。自10月初开始，美股AI泡沫叙事再起，叠加近期产业缺乏新 催化剂，港股AI科技类股票上涨动能不足。英伟达财报临近，市场仍在等待信号。该行认为从中长期 看当前位置港股科技吸引力凸显。 消息面上，隔夜美股市场再遭猛烈抛售，其中大型科技股多数下跌。有分析称，目前投资者正在更加深 入地审视人工智能热潮的基本面。近几周来，对于科技股估值过高的担忧情绪一直主导着市场。此外， 美联储持续释放"鹰派"信号，增加12月潜在降息的不确定性。据悉，利率期货市场对美联储12月降息25 个基点的预期从之前的70%下降至40%。 ...

首先，是难以复制的C端生态协同优势。阿里巴巴坐拥相当丰富的数字生活服务矩阵：淘宝、天猫覆盖购物；高德地图主导出行；饿了么深耕本地生活；钉 钉连接办公场景；飞猪布局旅游……这些高频、刚需、高价值的场景，为千问APP提供了天然的"办事"接口。未来，用户只需一句"帮我订下周去三亚的机 票和酒店"，千问即可联动其C端应用完成全流程操作。这种"一个入口、全域协同"的体验，是纯模型公司难以企及的护城河。 2025年11月17日，阿里巴巴正式对外公布"千问"项目，以顶级的资源投入和全球领先的技术底气，全力进军AI to C市场，这一消息公布不久，当天千问APP 就一度因用户大量涌入而崩掉。这款基于全球性能第一的开源大模型Qwen3打造的个人AI助手，不仅免费开放使用，更以"会聊天、能办事"的能力，直面 ChatGPT的国际竞争。在AI从技术探索走向全民普惠的关键节点，阿里为何选择此刻入局C端？又为什么有底气进入激烈的全球竞争？答案，藏在阿里高层 提出的AI演进三段论之中，也深植于阿里独特的生态与技术优势。 A A 01. 时机已至：阿里高层三段论下的AI to C战略窗口 阿里巴巴CEO吴泳铭曾将通用人工智能（AGI）的发 ...

Core Viewpoint - The Hong Kong stock market experienced a collective decline, with the Hang Seng Technology Index dropping by 2%, influenced by weak performance in tech and automotive stocks. Alibaba's launch of the "Qianwen" project marks a significant move into the AI to C market, aiming to compete with ChatGPT [1][2]. Group 1: Market Performance - The three major indices in the Hong Kong stock market fell collectively, with the Hang Seng Technology Index seeing a 2% decline [1]. - Key stocks such as XPeng Motors, Lenovo Group, BYD, and JD Health faced significant declines, while companies like Hua Hong Semiconductor, Trip.com, SMIC, and Alibaba saw gains [1]. Group 2: Company Developments - Alibaba officially announced the "Qianwen" project on November 17, launching the public beta version of the Qianwen App, which is based on the Qwen3 model and aims to compete directly with ChatGPT [1]. - The project is part of Alibaba's broader AI strategy, following a previously announced investment of 380 billion yuan in AI infrastructure [1]. - Future updates to the Qianwen App will include agentic-AI features to enhance shopping functionalities on platforms like Taobao, with an international version also in development [1]. Group 3: Industry Insights - According to China Merchants Securities, the launch of the Qianwen project signifies Alibaba's strategic ambition in C-end AI applications and the ongoing empowerment of business collaboration through AI [2]. - The firm noted that the Chinese AI industry continues to make breakthroughs, with Alibaba's initiative showcasing advancements in model performance and commercial application [2]. - The report suggests that the marginal benefits for Hong Kong stocks are gradually being realized but not fully priced in, indicating potential for a shift from suppression to growth in the market, particularly in AI and technology stocks [2].

Core Insights - The Chinese video cloud market is projected to reach $5.23 billion in the first half of 2025, showing a year-on-year growth of 8.9% [1] - The AI-driven segments, particularly real-time interaction and smart media production, have seen significant growth, with a market size of $40 million and a triple-digit percentage increase year-on-year [1] - The integration of AI models into video cloud services is reshaping the industry, creating new growth paths and enhancing production efficiency [4][12] Market Overview - The video cloud infrastructure and solutions market in China is expected to reach $4.18 billion and $1.06 billion respectively in the first half of 2025 [6] - The video live streaming service market has seen a combined market share increase to 67.3% among major players like Tencent Cloud, Alibaba Cloud, and Huawei Cloud [6] - The audio-visual communication cloud service market remains stable with a combined market share of 80.9% for key players including Agora and Tencent Cloud [8] Emerging Trends - The demand for video cloud services is stabilizing, driven by cost reductions for major short video and live e-commerce platforms, alongside growing overseas demand [1][5] - The rise of AI applications in social and entertainment sectors is rapidly penetrating content production scenarios, creating a new video cloud AI track [1][4] - The introduction of AIGC video tools is transforming media production processes, enhancing efficiency and user experience in various applications such as live sports events [4] Competitive Landscape - The video on demand cloud service market (excluding basic bandwidth) has seen a market share increase to 68.4% for major players like Alibaba Cloud and Tencent Cloud [10] - The video cloud industry is witnessing the establishment of barriers and differentiated practices among service providers, particularly in edge resource management and network connectivity [12]