Alibaba Group shares rose Monday following the weekend preview of its Qwen3.8 Max artificial intelligence model. The large language model features 2.4 trillion parameters.
Management claims the model's performance ranks second globally, trailing only Anthropic's latest flagship. This release aims to narrow the technology gap with U.S. competitors.
Alibaba plans to open-source the complete model weights soon to drive developer adoption. The strategy seeks to strengthen Qwen's position within the open-weight AI community.
The announcement triggered a broader rally in Hong Kong’s technology sector. Investors are increasingly targeting companies with clear AI monetization paths.