Alibaba Group Holding's Qwen artificial intelligence (AI) model is powering the world's top 10 open-source large language models (LLMs), according to collaborative machine-learning platform and community Hugging Face.

Chinese tech giant Alibaba Group Holdings Ltd's Qwen model offers a low-cost DeepSeek alternative as US computer scientists have successfully developed a new reasoning model that has been trained for less than $50 with the help of Alibaba's open-source technology.

Analysts say China’s AI investment is just beginning to pay off, with more firms expected to launch their own models soon.