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

Alibaba’s US-listed shares jumped around 4% to 4.5% in pre-market trading after the company launched its newest AI model, Qwen3.8-Max. This strong AI announcement made investors more confident about Alibaba’s future growth.

Alibaba also gained about 7% on the Hong Kong stock exchange after the AI announcement. The rise in both the US and Hong Kong markets shows investors reacted positively.