Why Alibaba Stock Is Surging Today

Shares of Alibaba Group Holding (BABA 1.74%) were flying higher on Wednesday. The company's stock gained 1.9% as of 1:50 p.m. ET, but rose as much as 5.5% earlier in the day. The move up comes as the S&P 500 (^GSPC -0.71%)and Nasdaq Composite (^IXIC -0.99%) lost 0.6% and 0.9%, respectively.Just days after the market punished AI stocks upon the release of the Chinese artificial intelligence chatbot DeepSeek, Alibaba released the latest version of its Qwen AI model.DeepSeek makes a splashNews of DeepSeek shoc ...