$Alibaba(BABA.US) My view on this remains unchanged.

I think that in China, it's very difficult to make money just from AI itself. Rationally speaking, given that Alibaba has its e-commerce cash cow, for Qianwen to add to its valuation, it would need to bring in a larger user base than Taobao, or be more profitable than Taobao, or significantly increase the share of high-margin cloud services. Currently, all three of these seem unlikely (personal feeling, not much data to support, more of a common-sense deduction based on past facts).

Therefore, with 150 as the baseline for a reasonable valuation, I would sell call options to reduce costs if the price rises more than 10% above that.