Alibaba lifts shares 7.3% after Qwen3.8-Max AI debut
What's next: Alibaba plans to release the model's weights starting Aug. 10, letting users customize it as China’s AI race intensifies.
Alibaba Group Holding released Qwen3.8-Max, its latest flagship AI model, and the stock rose as much as 7.3% in Hong Kong on Monday. The company said the 2.4 trillion-parameter system scored higher on several benchmarks than Moonshot’s Kimi K3 and in some cases matched or exceeded Anthropic’s Fable 5. Alibaba plans to make the model’s weights available for public download in the week starting Aug. 10, a move that would let developers adapt the system for their own uses. The Hangzhou-based company said Qwen3.8-Max showed strength in autonomous coding and long-horizon tasks, including completing a software engineering project over 16 days in internal testing.