Alibaba will partner with Apple to support iPhones' AI services offering in China, its chairman said on Thursday, a move likely to help the U.S. company ease falling smartphone sales in its key market.

The frenzy over Chinese artificial intelligence is turning Alibaba Group Holding Ltd. into an investor favorite again, injecting new life into an e-commerce giant that had nearly sunk into obscurity following a years-long regulatory crackdown.

DeepSeek has been at the center of frenzied interest in Chinese AI developers; even so, Apple is reportedly teaming up with Chinese tech giant Alibaba to produce new AI features for iPhones sold in China, according to The Information.