Alibaba Shares Jump 5% After Launch of Qwen 3.8 Max AI Model

HONG KONG: Alibaba Group’s shares rose by as much as 5% on Monday after the company unveiled a preview of its latest Qwen 3.8 Max artificial intelligence model, strengthening its position in the fast-growing AI coding software market. The new model is now available to developers through Alibaba’s Token Plan, Qoder, and QoderWork platforms.

Alibaba Expands AI Push with New Qwen Model for Developers

Alibaba described Qwen 3.8 Max as one of its most advanced AI models, claiming it delivers performance just behind Anthropic’s recently launched Fable 5 model. The launch comes just days after Chinese AI startup Moonshot AI introduced its Kimi K3 model, highlighting the intensifying competition among companies developing next-generation large language models for coding and enterprise applications. Following the announcement, Alibaba became the top-performing stock on Hong Kong’s Hang Seng Index during Monday’s trading session.