Reuters·2026-02-02 05:38Core Viewpoint - Alibaba plans to invest 3 billion yuan (approximately $431 million) to attract users to its Qwen AI app during the Lunar New Year holiday, intensifying competition among China's leading tech companies [1] Group 1: Company Actions - Alibaba's investment of 3 billion yuan is aimed at user acquisition for its Qwen AI app [1] - The timing of this investment coincides with the Lunar New Year holiday, a significant period for consumer engagement in China [1] Group 2: Industry Competition - The announcement highlights the escalating competition among major tech firms in China as they vie for dominance in the AI sector [1] - The investment reflects a broader trend of increased spending by tech companies to enhance their AI offerings and attract users [1]