Alibaba stock jumps 4.5% after launch of Qwen3.8-Max AI model boosts investor confidence

Alibaba launched Qwen3.8-Max, its most powerful AI model with 2.4 trillion parameters, causing US-listed shares to jump 4.5% and Hong Kong shares to rise 7%.

Qwen3.8-Max is a multimodal model that handles text and images, supports a 1 million token context window, and performs coding, research, and workplace tasks.

Alibaba plans to make Qwen3.8-Max fully open-source next week, allowing developers to download and modify it, aiming to expand its AI ecosystem.