Gary TanTencent Holdings LtdAlibaba GroupAllspring Global InvestmentsHuawei Technologies CoOmdiaBloombergAlibabaAlibaba Group Holding Ltd

AI resurgence helps push Alibaba to top Chinese tech stocks this quarter as shares surge 36% in Hong Kong

Alibaba's shares surged 36% in Hong Kong this quarter, leading the Hang Seng Tech Index as the company capitalizes on its AI investments. The stock is on track for its biggest quarterly outperformance against Tencent since early 2025, with expected revenue growth of 8.4% for the June quarter.

Bloomberg.com Bloomberg.com+2 sources20 August 2026 · 03:24 UTC
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Alibaba Group Holding Ltd is reclaiming its status as a leading Chinese tech stock, driven by significant investments in artificial intelligence (AI). The company's shares have surged 36% this quarter, outperforming the Hang Seng Tech Index and marking its largest quarterly gain against Tencent Holdings Ltd since early 2025.

Investors are optimistic about Alibaba's AI strategy, which focuses on generative models, cloud services, and chip operations, contrasting with Tencent's emphasis on social media and content. Gary Tan, a portfolio manager at Allspring Global Investments, noted, “Alibaba’s AI investments have been effective in reviving both investor interest in the stock and user engagement across its broader ecosystem.”

The company is projected to report 8.4% revenue growth for the June quarter, the fastest in nearly three years, as it also experiences accelerating cloud growth. Alibaba's cloud operation is expected to capture 37% market share by the fourth quarter of 2025, significantly ahead of competitors like Huawei and Tencent.6

Traders have responded positively to Alibaba's AI shift, granting the stock a valuation premium over Tencent for the first time in over a decade. This strategic focus on full-stack capabilities positions Alibaba favorably in the competitive tech landscape.

Key Insight
“Alibaba is on track for its biggest quarterly outperformance against Tencent Holdings Ltd since early 2025, with analysts projecting an 8.4% revenue growth for the June quarter. Gary Tan from Allspring Global Investments noted that Alibaba's AI investments have effectively revived investor interest and user engagement across its ecosystem.”
CuriousCats studied:
1
Bloomberg.comBloomberg.com
“Its shares have surged 36% in Hong Kong this quarter, topping the Hang Seng Tech Index in a rally ahead of its results due later Thursday.”
Bloomberg.com →
2
The Edge MalaysiaThe Edge Malaysia
“Alibaba Group Holding Ltd is reclaiming its place as one of investors’ favourite Chinese technology stocks, on bets it can beat rivals in the combative artificial intelligence (AI) market.”
The Edge Malaysia →
3
The Edge SingaporeThe Edge Singapore
“Alibaba is on track for its biggest quarterly outperformance against Tencent Holdings Ltd since early 2025.”
The Edge Singapore →
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