Citigroup analysts said Apple has selected Alibaba’s Tongyi Qianwen (Qwen) model
to support Apple intelligence in China, which they view as a strong endorsement
of Alibaba’s AI capabilities. They expect the collaboration could drive
incremental cloud demand and reinforces Qwen’s leadership in China’s
foundational-model market. Citigroup maintained a buy rating and PT $193 on
Alibaba.