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US Stock Movement | Alibaba (BABA.US) drops over 2% before market open, Lin Junyang's resignation draws attention
CryptoTimes App has learned that on Thursday, Alibaba (BABA.US) fell over 2% in pre-market trading, trading at $129.70. On March 4th early morning, Lin Junyang posted on social media announcing his resignation, quickly attracting market attention. Lin Junyang was previously the youngest P10 technical leader within Alibaba Group. In 2024, Lin Junyang led the open-source work on the Qwen series models, which include versions with 7B, 14B, and 72B parameters.
On March 5th, Alibaba-W (09988) CEO Wu Yongming responded to Lin Junyang’s departure in an internal email. Wu Yongming stated that the company has approved Lin Junyang’s resignation and thanked him for his contributions. Jingren will continue to lead Tongyi Laboratory to push forward with subsequent work.
Reports indicate that Lin Junyang’s decision to leave is likely related to organizational adjustments currently underway within the Qwen team. The Qwen team directly managed by Lin Junyang is part of Tongyi Laboratory, overseen by Alibaba Cloud CTO Zhou Jingren. Recently, Tongyi Laboratory planned to spin off the Qwen team, transforming from a vertically integrated system covering different training processes and modalities into separate horizontal teams focused on pre-training, post-training, text, and multi-modality, all still under Tongyi Laboratory. Lin Junyang’s scope of management has been reduced.