U.S.-listed shares of Alibaba Group Holding (BABA) rose more than 8% on Thursday and were climbing in after-hours trading after the Chinese e-commerce giant posted quarterly results, with retail sentiment staying bullish.

The e-commerce company said last week that it would partner with Apple in China to support iPhone AI services.

Key Takeaways Alibaba's U.S.-listed shares soared 8% Thursday after the Chinese technology and e-commerce giant reported quarterly results above Wall Street expectations.The company said its AI-driven strategies had reaccelerated growth in its core businesses,

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.