Alibaba Hong Kong shares jump 34% outpacing Tencent before earnings
Business
Alibaba's Hong Kong shares have jumped 34% this quarter, outpacing the Hang Seng Tech Index and even Tencent.
The buzz comes right before its June quarter earnings drop on August 20, marking Alibaba's strongest run against Tencent since early last year.
Alibaba doubles down on AI
What's behind the hype? Alibaba has doubled down on AI: think Qwen generative models, cloud services, and its own chips.
This strategy has boosted user engagement and reassured investors, despite some profit pressure from all that spending.
Analysts are expecting an 8.4% revenue boost, the fastest growth Alibaba's seen in almost three years.
Plus, with a 37% market share in the fourth quarter of 2025 (way ahead of Huawei and Tencent), Alibaba is looking tough to beat in the tech race.