Chinese technology company Alibaba released on Thursday new open-source artificial intelligence models and text-to-video AI technology, intensifying its efforts to compete in the booming area of generative AI.

Alibaba has released over 100 new open-source artificial intelligence (AI) models, significantly expanding its AI offerings in a bid to compete with major players in both China and the U.S. The new models,

Alibaba is hoping its latest AI offerings may tempt customers around the world to sign up to its cloud services.

Alibaba stock is higher Thursday after the Chinese e-commerce giant released over 100 AI models, but Wall Street was already bullish on BABA.

Alibaba on Thursday released Qwen 2.5, a new set of open-source artificial intelligence models. TakeAway Points: Alibaba enhanced the capabilities of its in-house technology on Thursday and released over 100 open-source artificial intelligence models.