Alibaba Sells Nearly 100,000 QwenWork Monthly Plans in 30 Minutes During Singles' Day Livestream
Published on 11/08/2026 at 19:42 | Editorial boerse-global.de
Alibaba's QwenWork subscriptions became an unexpected highlight of this year's Singles' Day shopping event. During a Taobao/Tmall livestream on Wednesday, close to 100,000 monthly packages were snapped up in roughly half an hour, according to Alibaba data reported by the South China Morning Post. Media reports put the usage quota tied to those sales at around 2 trillion tokens — a figure that captures both the volume of subscriptions and the scale of AI consumption they represent.
The AI angle is only part of the picture for Alibaba shareholders this month. The stock rose 2.0% to €98.30 on Friday in euro-denominated trading, even as the shares came under pressure in Hong Kong alongside Chinese technology names, where a Wall Street selloff spilled over into Asian markets and left the paper among the session's decliners.
Sentiment has been supported by two separate developments. Apple confirmed roughly a week ago that it will use Alibaba's Qwen models for Apple Intelligence in mainland China, integrating them into Siri, Writing Tools and Visual Intelligence. Developer beta testing began on Wednesday, with a public rollout planned alongside iOS 27.3 in December. The arrangement gives Qwen access to users through Apple's system-level functions.
Should investors sell immediately? Or is it worth buying Alibaba?
On the analyst side, Mizuho Securities lifted its price target on Alibaba from $195 to $200 on Tuesday while keeping its Buy rating, with analyst Wei Fang citing broader demand for artificial intelligence and more disciplined spending across the competitive landscape.
Alibaba also published its "2026 AI for Good Action Report" on Thursday, which media reports say documents 26 use cases spanning healthcare, education, environmental protection and scientific research.
Attention now turns to the company's financials. Alibaba will release unaudited results for the quarter ended September 30, 2026, before the US market opens on November 19. The board is scheduled to review the unaudited figures for the three and six months to September 30 a day earlier, on November 18. The November AI sales fall outside that reporting period.
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