Alibaba unveils Qwen3.8-Max with 2.4 trillion parameters, rivaling Moonshot AI's Kimi K3, intensifying the AI race with implications for crypto

Moonshot AI runs Kimi K3 on a 20,000 Nvidia GPU cluster via Alibaba as its valuation surges to $35B and an IPO looms.

Chinese tech companies - a huge force in open-weight AI models globally - are locked in a fierce and fast-moving battle to build more powerful systems without making them…