Why Alibaba Stock Is Trading Higher Tuesday?
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited's stock is trading higher following reports of restructuring and the launch of an open-source Large Vision Language Model (LVLM) named Qwen-VL by its grocery subsidiary Freshippo. The restructuring includes consolidation of various teams and a shift from the traditional critical account model to a direct procurement strategy. Alibaba Cloud LVLM is based on Alibaba Cloud’s 7 billion parameter foundational language model Qwen-7B, with new features launched for Qwen-VL.
August 29, 2023 | 11:28 am
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Alibaba's stock is trading higher due to the restructuring of its subsidiary Freshippo and the launch of a new open-source Large Vision Language Model. This could potentially increase the company's market competitiveness.
The restructuring of Freshippo and the launch of a new open-source Large Vision Language Model could potentially increase Alibaba's market competitiveness, leading to a rise in its stock price.
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