US Stock Market Moves | Alibaba (BABA.US) rises over 4% after launching Qianwen 3.8-MAX

According to Golden Ten Data APP, on Monday, Alibaba (BABA.US) rose by over 4%, closing at $127.84. On the news side, Alibaba’s Qwen team officially released Qwen 3.8-Max on August 3. It has a total of 2.4 trillion parameters and 95 billion activated parameters, making it the largest and most powerful model in the Qwen series to date. This also marks the first time Qwen has open-sourced a Max-level model—the weights will be released next week on the open-source communities Hugging Face and ModelScope.

In terms of pricing, Qwen 3.8-Max is available via API through the Qwen AI platform (Alibaba Cloud): $2.0 per million tokens for input, $6.0 per million tokens for output, and implicit caching at $0.25 per million tokens.

Benchmark tests show that Qwen 3.8-Max performs comparably to Anthropic Fable5 on multiple metrics related to coding agents and general intelligence agents, and exceeds it on some indicators. For example, PaperBench scored 93.0, higher than Fable5’s 88.8; CoWorkBench scored 74.8, close to Fable5’s 75.9; and WideSearch scored 81.9, which is on par with Fable5’s 81.2.