On August 3, Alibaba rose 4.37% in pre-market trading, trading at $127.45/share, with turnover of $1.3582 million.

On the news front, Alibaba officially released its next-generation foundation model Qwen3.8-Max with a total of 2.4 trillion parameters, representing a major upgrade in coding and professional collaboration capabilities. The model ranks in the global first tier on authoritative third-party benchmarks, trailing only Anthropic's Claude series. Qwen3.8-Max's API service has launched on the Qianwen AI platform with competitive pricing at roughly 40% and 24% of comparable models for input and output respectively. Model weights are expected to be open-sourced next week.

Additionally, Alibaba simultaneously launched its enterprise-level Agent product and market reports suggest the company reached a computing agreement with AI startup Moonshot for approximately 20,000 NVIDIA chips. Earlier, Alibaba's Qianwen model was also reported to have entered deep testing for Tesla's China in-vehicle system, further validating its commercial deployment potential.

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