Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower on Monday in line with the broader IShares China Large-Cap ETF (NYSE:FXI) index. 

The company lost its title as China's most valuable e-commerce company to PDD Holdings Inc (NASDAQ:PDD), an eight-year-old competitor. 

BABA stock has lost 20% in stock value year-to-date and PDD gained 72%.

Alibaba Cloud announced the open-sourcing of several large language models (LLMs) with varying sizes and multimodal features. 

The company has made two versions of its proprietary foundation model, Tongyi Qianwen, available on ModelScope and Hugging Face: Qwen-72B with 72 billion parameters and Qwen-1.8B with 1.8 billion parameters. 

Alongside these, Alibaba Cloud offers multimodal LLMs like Qwen-Audio and Qwen-Audio-Chat, which focus on audio understanding and conversation, Technode reports.

These models, which range from 1.8 billion to 72 billion in parameters, also include audio and visual understanding capabilities.

The 72-billion-parameter model, trained on over 3 trillion tokens, excels in various benchmarks, demonstrating proficiency in complex tasks like role-playing and language style transfer. This feature is handy for applications such as personalized chatbots.

For research purposes, the Qwen-72B model's code, model weights, and documentation are accessible for free. Companies with fewer than 100 million monthly active users can use these models commercially without charge. 

Additionally, Alibaba Cloud released the 1.8-billion-parameter version designed for edge computing, which is suitable for devices with limited computational resources, like cell phones.

Furthermore, Alibaba Cloud introduced Qwen-Audio and Qwen-Audio-Chat, enhancing audio understanding for diverse tasks, such as multi-language transcription and speech emotion detection. 

Alibaba Cloud's ModelScope platform has become China's largest AI model community, with significant developer engagement and model downloads.

Price Action: BABA shares traded lower by 1.54% at $72.84 premarket on the last check Monday.