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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid the accelerating race for generative AI supremacy, Alibaba Cloud has released a major upgrade to its video generation model, HappyHorse 1.1, which has secured the second spot in global rankings. The model is now live with full API access for enterprise customers, featuring a 40% launch discount for the initial two weeks to incentivize developer adoption. According to reports, this launch aims to provide production-ready video synthesis and strengthen Alibaba's competitive standing against global tech giants.
This technological milestone places Alibaba ahead of domestic rivals like ByteDance and positions it as a direct competitor to global leaders such as OpenAI's Sora. Per market data, this expansion into AI-driven cloud services occurs as Chinese economic indicators show mixed results, with retail sales contracting by 0.6% in June 2026, increasing the pressure on tech firms to diversify revenue through high-end innovation.
Traders should monitor 9988.HK, which stood at 102.9 HKD (close June 22, 2026), while the US-listed BABA shares closed at $107.06 (close June 18, 2026). Looking ahead, market sentiment for the tech sector may be influenced by global consumer trends, following US Retail Sales data which showed a 0.9% increase, potentially impacting risk appetite for large-cap technology stocks.