Alibaba Stock Hits 3-Year High on AI Spending Plans

Alibaba Group Holding Ltd (NYSE:BABA) is up 8.7% to trade at $177.21 at last check, after the China-based e-commerce giant announced it would hike AI spending on models as well as infrastructure beyond $50 billion. The tech giant also unveiled Qwen3-Max, its largest-ever AI language model, and announced plans to open new data centers.BABA surged to a three-year high of $178.11 right out of the gate, pushing past a recent ceiling at $170. The security now sports a 109.9% year-to-date lead and is on track for ...