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flag Alibaba releases Qwen AI models open-source to drive AI and cloud computing growth amid revenue slowdown.

flag Alibaba's co-founder Joe Tsai announced the open-source release of the company's Qwen AI models, aiming to boost demand for AI applications and cloud computing. flag This move follows pressure from competitor DeepSeek and is part of Alibaba's $53 billion investment in AI over three years. flag Despite these efforts, Alibaba's Q1 2024 revenue growth was only 7%. flag Internally, a former executive criticized the company's decline, leading to a broader discussion on Alibaba's strategic direction and innovation.

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