Alibaba CEO’s focus on theoretical technology comes after a good few years for the e-commerce giant and Qwen maker.

CEO said the pursuit of artificial general intelligence is the company's primary objective when it comes to their AI strategy.

The CEO of the Chinese e-commerce company Alibaba is reported to have told investors that the “primary objective” and focus is on AGI.

Investors looking for companies they can invest in to benefit from the growth of AI in China have generally focused on leading tech companies like Alibaba (NYSE: BABA) and Baidu (NASDAQ: BIDU). But which of the two is a better choice?

Alibaba, Tencent and other Chinese technology stocks surged Friday, lifting Hong Kong's Hang Seng Index to a near-three-year high. In the U.S. the Kraneshares CSI China Internet ETF, or KWEB, advanced.