On August 3, Alibaba rose 3.43% in regular trading, trading at $127.31/share, with turnover of $227 million. The stock surged as the company officially released its next-generation foundational large language model Qwen3.8-Max.

The newly launched Qwen3.8-Max features a total parameter count of 2.4 trillion, delivering significant improvements in coding and professional collaboration capabilities. According to the authoritative third-party benchmark Arena, the model's overall performance ranks just below Anthropic's Claude series, placing it firmly in the global first tier. The API service is already live on the Qwen AI platform, with international pricing at only 24%-40% of competitor Opus5, and model weights are expected to be open-sourced next week.

Additionally, reports indicate that Moonshot AI has reached a computing power agreement with Alibaba, gaining access to a cluster of approximately 20,000 Nvidia chips. Alibaba simultaneously launched its enterprise-grade Agent product QwenWork for public beta testing. Earlier during Hong Kong trading hours, Alibaba-W closed up over 7%, with northbound capital net purchasing over HK$40 billion of Alibaba shares on the day.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)