Alibaba stock slips premarket after $431 million Qwen AI Lunar New Year blitz
New York, Feb 2, 2026, 05:17 ET — Premarket Alibaba Group Holding’s U.S.-listed shares slipped 0.8% to $168.17 in early trading Monday, after the company announced plans to invest 3 billion yuan ($431 million) to boost users of its Qwen AI app. The stock had closed at $169.56 previously. (Reuters) Spending reveals the story. China’s top tech giants are racing…