Citi Maintains Alibaba Buy Rating as BABA Contract Gains 2.5%

Citi kept its buy rating on Alibaba on Nov. 2, saying Apple’s planned Qwen integration in China may broaden use of Alibaba’s AI model and increase demand for cloud-based inference.

The bank’s view links wider access to Qwen with more demand for computing used to generate AI responses. Citi maintained its rating as Apple prepared to bring the features to users in China.

Apple plans to make Qwen available through selected Siri, Writing Tools and Visual Intelligence features. Developer testing is scheduled to begin Nov. 4, with a public release planned for December alongside iOS 27.3.

A BABA-linked contract on Hyperliquid gained 2.54% over 24 hours to $101.26, with about $2.44 million in 24-hour volume in a Nov. 2 snapshot. Those figures describe trading in the Hyperliquid contract, not Alibaba’s U.S.-listed shares.