Alibaba Unveils Qwen3.8-Max AI Model, Claims Second Only to Anthropic's Fable 5
BABA sits 25% above its 52-week low of $91.99.
Summary
Alibaba previewed its Qwen3.8-Max-Preview, a 2.4-trillion-parameter large language model it claims is second only to Anthropic's Fable 5. The model will be open-weight, allowing developers to download and modify it. This follows a series of aggressive AI moves by Alibaba, including the Qwen3.7-Max upgrade in May and ambitious $4.1B AI revenue targets. The news drove Alibaba's Hong Kong shares up 5.6% on Monday, outperforming the Hang Seng Tech Index. The release intensifies China's AI race, coming days after Moonshot's Kimi K3 launch, and signals Alibaba is closing the gap with U.S. frontier models.
At the time of this announcement, BABA was trading at $115.18 on NYSE in the Technology sector, with a market capitalization of approximately $275.4B. The 52-week trading range was $91.99 to $192.67. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.