Bloomberg: Alibaba's Hong Kong stock rose more than 4%, Quark's "Plan C" challenges Byte Doubao

Alibaba's Hong Kong stock price rose by more than 4% today, ranking first in the popularity list of Hong Kong stocks, attracting the attention of a large number of investment groups at home and abroad. According to Bloomberg, Alibaba’s Quark is developing an AI business that may pose a challenge to ByteDance’s products.

Yesterday evening, this business, known as "Plan C", has been in preparation for some time. It is led by the Quark core team, with the in-depth participation of many senior members of Tongyi Laboratory, and the focus is on conversational AI applications.

According to sources, Alibaba may launch its first product under the program in the near future. So far, Alibaba has not responded to requests for comment.