markets

Claire Yubin Oh11/24/25

BABA rises after its relaunched AI app, Qwen, hits over 10 million downloads in one week

Alibaba is trading 3.5% higher in the US premarket after the Chinese e-commerce giant disclosed that its revamped Qwen app was downloaded more than 10 million times in the week since it was relaunched, per Bloomberg.

The impressive download figures follow Alibaba’s decision earlier this month to streamline and consolidate its AI services under the Qwen banner, with plans to add agentic AI features to support its main Taobao business in coming months — a move in line with Alibaba’s recent rebrand as an AI-first business under CEO Eddie Wu. Qwen’s latest results and the company’s wider AI strategy will be in the spotlight during its third-quarter earnings call on Tuesday.

The early user figures for Alibaba’s Qwen followed a similar pattern seen by Chinese peers like Ant Group Co., which saw its new multimodal AI assistant, LingGuang, downloaded more than a million times in the four days since its launch last week, Bloomberg reported. OpenAI’s ChatGPT is still unavailable in China.

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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