Alibaba Group Holding LtdAlibaba launches Qwen3.8-Max, its largest AI model, driving shares up 7%.
Alibaba unveiled its largest AI model to date, Qwen3.8-Max, on August 3, sending its Hong Kong-listed shares up about 7%. The model is built on 2.4 trillion parameters and uses a mixture-of-experts design that activates only about 95 billion at a time, cutting compute costs. Alibaba plans to release the model's weights for public download next week, aiming to drive developer demand toward its cloud unit, which reported fourth-quarter revenue of RMB 41.63 billion, up 38% year-over-year. The launch intensifies competition with Baidu, which takes a more vertically integrated approach with its ERNIE model family, and with rivals Moonshot and DeepSeek, whose Kimi K3 and V4-Flash models respectively challenge on scale and pricing.
Alibaba Group Holding LtdAlibaba launches Qwen3.8-Max, its largest AI model, driving shares up 7%.
Baidu IncAlibaba's new Qwen3.8-Max intensifies competition with Baidu's ERNIE model family.
Astera Labs, Inc.