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

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

Alibaba stock rose 4.5% after launching Qwen3.8-Max (2.4T parameters, 1M token window), competing with top global AI models. Open-source strategy targets developer ecosystem growth, positioning AI as core revenue driver amid Chinese-US competition.