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Alibaba $BABA rose nearly 10% in early trading on July 8, with premarket gains above 8% near $106. IBD linked the move to a broader China AI rally as the Hang Seng China Enterprises Index gained 4.5%.

Alibaba Group posted an operating loss of CNY 848 million in its FY2026 results announced May 14 — its first operating loss in at least four years. Revenue of CNY 243.4 billion grew 3% YoY but missed the CNY 247.2 billion consensus. Bloomberg Intelligence estimates Alibaba is directing ~90% of e-commerce revenue into its Qwen AI model. $BABA fell 3.22% to $141.12 on the day.