Chinese AI model euphoria continues with another Alibaba stock jump

• Alibaba shares surged 7% after the company open-sourced its QwQ-32B AI model.
• The model competes with DeepSeek’s R1, and the company says it is more energy- and cost-efficient.
• Alibaba’s shares have risen close to 70% this year amid a Chinese tech stock rally.

Alibaba surged on Thursday after the company made one of its artificial intelligence models public, a sign that the party isn’t over for Chinese tech stocks.

The e-commerce giant’s Hong…