Why Alibaba Stock Closed at a 2-Year High on Wednesday [Video]

Shares of Alibaba Group (BABA) listed in the U.S. extended their rally into Wednesday amid reports that the Chinese tech and e-commerce giant is partnering with Apple (AAPL) to create artificial intelligence features for Apple products in China.

The Information on Tuesday and The Wall Street Journal early Wednesday reported that Apple has submitted AI features developed with Alibaba to Chinese regulators for approval, a process that could take several months.

Apple and Alibaba did not immediately respond to requests for comment.

Analysts said that the partnership and rollout of AI features in China could help Apple’s slowing sales in China. Upgrades, a key driver of Apple device sales, have been more common in regions where the AI features have launched, like the U.S. The deal could also allow Apple to access the data Alibaba has collected through its e-commerce offerings to allow the AI products to be more personalized, Bloomberg reported.

Wednesday marks the …