Alibaba Group is set to launch its Qwen3 AI model later this month, aiming to strengthen its position in the artificial intelligence sector. The new model follows the recent release of the Qwen2.5-Omni, which has gained recognition as a leading open-source AI model. Concurrently, Alibaba has been actively repurchasing shares, having bought back 51 million shares, equivalent to 6 million American Depositary Shares (ADS), for a total of $600 million in the first quarter of 2025. This buyback strategy is part of Alibaba's efforts to enhance shareholder value amidst ongoing market fluctuations. In related news, Tencent has conducted stock buybacks totaling HK$17 billion in the first quarter, marking a 15% increase year-over-year. The developments come as Alibaba continues to navigate the competitive landscape of technology and e-commerce, with analysts noting the company's resilience in the face of broader market challenges.