Alibaba's shares rose 9% after CEO Eddie Wu announced an increase in the AI budget, aiming to invest 380 billion yuan in AI infrastructure over three years. During a conference in Hangzhou, Wu launched the Qwen3-Max AI model, which reportedly outperforms competitors. Despite the ambitious plans, Alibaba faces challenges due to restrictions on AI processors from Nvidia, as China aims to develop its own chip industry. Teljes cikk (Euronews.com)