Alibaba shares surge after unveiling new AI model Qwen

1. 1Alibaba (BABA) saw its stock price rise on the Hong Kong market after unveiling its new AI model, Qwen 3.8 Max Preview.
2. 2Alibaba said Qwen 3.8 Max delivers performance approaching Anthropic's Claude 5 and has been released to developers via its coding platform and other channels; Alibaba shares climbed as much as 5.4%, making it the top gainer on the Hang Seng Index.
3. 3The announcement comes amid intensifying AI competition in China, with rivals including Moonshot AI's Kimi K3 and a new Tencent-backed MiniMax model, and Goldman Sachs said it continues to prefer Alibaba among cloud providers.

Source GuruFocus.com +3 · View original ↗

Today's 5 AI picks, all free

Nothing hidden: past picks and how they did against the S&P 500.

See today's picks →