Chief executive Eddie Wu said AI was "the kind of opportunity for industry transformation that only comes around only once every few decades."

China's Alibaba Group Holding on Thursday topped Wall Street expectations for third-quarter revenue, on strong year-end shopping sales and the success of its strategy to attract cost-conscious consumers.

Alibaba Group stock was rising Thursday as China’s artificial-intelligence boom helped drive up quarterly revenue for the e-commerce company.Alibaba American depositary receipts jumped 14% to $143.30 in early trading.

Alibaba stock is higher Thursday after the China-based e-commerce platform beat expectations for its fourth quarter. Here's what you need to know.

Alibaba Group stock continued its red-hot rally Thursday, climbing more than 10% after reporting December quarter results. Alibaba's fiscal third quarter earnings and revenue topped estimates, while the company's AI push helped accelerate growth for its cloud business.