Alibaba Group Holding Ltd (BABA)

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Alibaba rises as it reportedly gets set to launch ChatGPT-like tech this month
By: Seeking Alpha | April 6, 2023

• Alibaba (NYSE:BABA) shares rose fractionally in premarket trading on Thursday after it was reported that the Chinese tech company is getting ready to launch its ChatGPT-like technology later this month.

• A blogger found the Alibaba (BABA) version of ChatGPT inside the company's Tmall Genie smart speaker, according to Chinese news outlet Pandaily.

• In February, it was reported that Alibaba (BABA) was testing an artificial intelligence dialogue tool similar to ChatGPT with its employees.

• Several other Chinese tech companies have launched or announced plans for their own AI-powered chatbots, including Baidu (BIDU) and JD.com (JD).

• AI-related stocks were mixed in premarket trading on Thursday, as SoundHound AI (SOUN) gained more than 3%, while C3.ai (AI) and BigBear.ai (BBAI) fell more than 1%.

• Late last month, Alibaba (BABA) announced plans to split into six individual units, with all of the units pursuing financing options, including initial public offerings.

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