Alibaba Stock Surges 5.2% After Unveiling Qwen3.8 Max, Its Most Advanced AI Model

Why Is Alibaba Stock Gaining Monday? - Alibaba Gr Hldgs (NYSE:BABA)

Nasdaq futures gained 0.68%, while S&P 500 futures advanced 0.33%. Alibaba Advances Qwen AI The company said Qwen3.8 Max-Preview, the strongest model in its Qwen family, is available through its Token Plan subscription service and its Qoder and QoderWork agentic platforms. The company said the model has 2.4 trillion parameters and described it as comparable to leading frontier AI models, second only to Anthropic's Claude Fable 5, SCMP reported on Sunday. Alibaba also said it plans to release Qwen3.8 as an open-weight model, though it did not provide more details. Technical Picture Improves Alibaba is trading about 14.3% above its 20-day simple moving average and roughly 1% above its 50-day average. However, the stock remains 4.6% below its 100-day moving average and 17% below its 200-day average, indicating the longer-term trend is still under pressure. Momentum indicators have improved. The moving average convergence divergence (MACD) remains above its signal line, suggesting buying pressure has strengthened in recent sessions. Chart watchers are monitoring resistance near $134, while $118 remains an important support level around the 50-day moving average. Alibaba Analyst Outlook Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $192.67 (based on 11 analysts). Recent analyst moves include: * Susquehanna: Positive (Raises Forecast to $185.00) (May 15) * JP Morgan: Overweight (Raises Forecast to $205.00) (May 14) * Barclays: Overweight (Raises Forecast to $195.00) (May 14) Top ETF Exposure Significance: Because BABA carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. Alibaba Price Action BABA Stock Price Activity: Alibaba shares were up 3.97% at $119.53 during premarket trading on Monday, according to Benzinga Pro data. Image via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

Why is Alibaba stock surging today? By Investing.com

Investing.com -- Alibaba stock surged 5.2% to HK$118.4 on Monday after the company released a new, preview version of its most advanced Qwen artificial intelligence model. The company on Saturday released a preview version of its Qwen3.8 Max large language model, a 2.4-trillion-parameter system that the company describes as one of the most capable AI models globally, ranking just behind Anthropic's latest flagship. Alibaba also pledged to open-source the complete model weights in the near term, a move that is expected to accelerate developer adoption and cement Qwen's growing reputation in the open-weight AI ecosystem. Adding to the bullish tone, Alibaba's ongoing partnership with Apple -- through which its Qwen AI model powers Apple Intelligence features for users in China -- continued to serve as a positive backdrop, especially after Beijing approved Apple's AI rollout in China. Alibaba-backed startup Moonshot AI further energized the sector by unveiling its Kimi K3 open-weight model and reporting plans for a Hong Kong IPO, reinforcing the narrative that Chinese AI development is accelerating on multiple fronts simultaneously. The broader Hong Kong market reflected the AI-driven excitement, with the Hang Seng TECH index advancing 3% and the wider Hang Seng index climbing 2% on the day. The rally was broad-based across Chinese internet and technology names, as investors rotated into companies with credible AI monetization stories -- a category in which Alibaba, given its cloud infrastructure and model development pipeline, is increasingly viewed as a frontrunner. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.