STORY: Alibaba shares surged in Hong Kong trade Friday.
They were up 13% by midafternoon.
The jump came after the firm said a day earlier that it would ramp up investment in AI.
Speaking to analysts, company boss Eddie Wu said the new tech was the kind of opportunity that only comes around “every few decades”.
He predicted that AI could one day replace 50% of global GDP.
The firm unveiled an updated version of its AI model last month – and says it outperforms DeepSeek.
That’s the…
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