On September 18, Alibaba rose 3.15% overnight, trading at $111.96 per share, with turnover of $19.37 million. The rally was driven by a convergence of AI product launches and a major investment bank upgrade.

On the news front, Alibaba's Qwen division released its native omni-modal model Qwen3.8-Omni-Flash, supporting text, image, audio, and video inputs with a context length of 1M tokens and native support for up to one hour of continuous audio-video input. On the same day, JPMorgan issued a research note assigning Alibaba US and HK stock target prices of $210 and HK$205 respectively, with an Overweight rating. Additionally, Alibaba's DAMO Academy and Zhejiang University jointly developed the DAMORADAR medical imaging AI model, published in Science, capable of identifying over 146 conditions from abdominal CT scans — now open-sourced. The Qoder platform also announced that Qwen3.8-Flash will be available for free until October, further expanding the model's user base.

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