Alibaba debuts new AI model in challenge to US rivals
Alibaba just released its biggest AI model yet. The Chinese e-commerce behemoth says its new Qwen3.8-Max can compete with — and sometimes even beat — Anthropic's Fable 5. Hong Kong-listed shares of the company jumped on the news. The Qwen3.8-Max drop comes just after homegrown rival Moonshot AI shook up markets with the release of its Kimi K3 model. Taken alongside recent offerings from DeepSeek and ByteDance, these new models show the gap between Chinese and American AI is "narrowing fast," says Vey-Sern Ling of Union Bancaire Privée.
Alibaba has released its largest artificial intelligence model to date. The Chinese e-commerce giant claims that Qwen3.8-Max can compete with — and in some cases outperform — Anthropic’s Fable 5.
Hong Kong-listed shares of Alibaba rose following the announcement. Investors responded positively to the company’s latest advancement in AI capabilities.
The launch of Qwen3.8-Max comes shortly after rival Moonshot AI disrupted markets with the release of its Kimi K3 model. Competition among Chinese AI developers continues to intensify.
Recent models from DeepSeek and ByteDance have further demonstrated progress in the Chinese AI sector. Together, these releases highlight rapid technological advances within the country.
According to Vey-Sern Ling of Union Bancaire Privée, the gap between Chinese and American AI systems is “narrowing fast.” The latest wave of Chinese models is closing the performance difference with leading U.S. competitors.
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