港股AI大涨，MINIMAX飙升26%，智谱涨逾7%，阿里涨近3%，千问推出最强模型

Core Viewpoint - The article discusses the escalating competition among major tech companies in the AI sector, highlighting Alibaba's recent advancements and strategic moves in AI model development and ecosystem integration [2][4][12]. Group 1: AI Model Developments - Alibaba released its flagship reasoning model Qwen3-Max-Thinking, which is claimed to be the largest and most capable model in China, outperforming international models like GPT-5.2 and Gemini 3 Pro in several benchmark tests [4][6]. - The model features over one trillion parameters and has set new records in 19 authoritative benchmark tests, showcasing significant advancements in reasoning capabilities [6][8]. - A novel Test-time Scaling mechanism enhances the model's reasoning efficiency, allowing it to extract and refine previous reasoning results for smarter outcomes [8][9]. Group 2: Ecosystem Integration - Alibaba is integrating Qwen into its broader ecosystem, aiming to create a seamless AI experience for users, enabling functionalities like booking, shopping, and payment through natural dialogue [12][13]. - The establishment of the Qwen C-end business group signifies Alibaba's commitment to consumer-facing AI products, with plans to expand its capabilities across various services within the Alibaba ecosystem [12][13]. - The independent operation of Alibaba's chip company, Pingtouge, is aimed at transforming it into a revenue-generating entity, supporting the AI model and cloud services while reducing dependency on external suppliers [11][12]. Group 3: Competitive Landscape - Other tech giants are also intensifying their AI strategies, with Tencent focusing on integrating AI into its social applications, while Baidu emphasizes AI cloud solutions for enterprise clients [14]. - ByteDance is exploring hardware opportunities with its AI products, indicating a diverse approach to establishing AI as a core business component [14]. - The competition is shifting from merely developing AI models to creating comprehensive ecosystems that combine models, applications, and user experiences [13][14].