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Alibaba Continues to Surge on AI Search Traction

Alibaba (NAS100: BABA) shares surged again on strong volume, driven by two analyst upgrades on AI-driven cloud computing and e-commerce.

BABA – Weekly Chart

BABA – Weekly Chart

The price of BABA has surged above the resistance at $148.71 highs and is now on a march toward the $200 level. The trend remains strong, with no signs of selling emerging over the last two months.

One analyst noted that the company’s 17.6x non-GAAP estimated valuation for FY 2027 was “undemanding” compared to its global peers. The company also reported strong traction on AI tools, such as the recently enhanced “Amap” maps application for local restaurants, hotels, tourist locations, and Waze. The product had recorded 360 million users, making more than 2.6 billion AI-assisted travel and service-related requests.

A quarterly filing from Alibaba with the Hong Kong Exchange reported spending $251 million on 2 million ADR buybacks in Q3 2025. Quarter-on-quarter, the company decreased its share count by 0.02% for a net buy of 400k ADRs.

EV stocks also boosted Chinese tech stocks on Thursday after a strong sales rebound.

Shares of Chinese electric-vehicle makers rose in Hong Kong on Monday, the first trading day after a holiday, buoyed by solid sales figures. Nio led with a 7% gain to its highest level since January 2024 after new monthly and quarterly sales records. The Shanghai-based company delivered 34,749 vehicles in September, representing a 64% increase year-over-year, with a 41% gain for the quarter.

Nio and XPeng also delivered strong sales due to the launch of new models and competitive lineups. Analysts say they expect the companies’ sales momentum to continue. XPeng deliveries increased 95% from the same period a year earlier in September, more than doubling third-quarter sales.

The numbers were a welcome boost after China looked to crack down on price wars in the sector. A summer slowdown led to sharp losses for market leader BYD, and the company has suffered again with its first drop in shipments in 18 months. The company delivered 396,270 units in September, down from 419,426 in August.

This highlights that the government’s efforts to end price gouging have boosted the company’s rivals and their higher-priced offerings.

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