Alibaba, Tencent and other Chinese technology stocks surged Friday, lifting Hong Kong's Hang Seng Index to a near-three-year high. In the U.S. the Kraneshares CSI China Internet ETF, or KWEB, advanced.

Investors looking for companies they can invest in to benefit from the growth of AI in China have generally focused on leading tech companies like Alibaba (NYSE: BABA) and Baidu (NASDAQ: BIDU). But which of the two is a better choice?

Shares of the Chinese tech giant Alibaba (BABA) are staging a solid comeback, rising nearly 70% in one month. The stock has outperformed its tech peers over the past year, gaining 90% during the same period.

Chinese e-commerce retailer Alibaba (BABA) stock spiked over 8% after billionaire investor Ryan Cohen increased his stake to approximately

Billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly $1 billion in recent months, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Ryan Cohen still has his sights set on Alibaba Group and has been building up his position in the Chinese e-commerce behemoth.