Movement Alert｜Alibaba Rises 3.15% Overnight, Qwen3.8-Max Launch and Bullish Cloud Outlook Fuel Gains

Market Focus08-04

On August 4, Alibaba rose 3.15% overnight, trading at $130.29/share, with turnover of $17.03 million.

The rally was driven by a confluence of catalysts. Alibaba officially launched its next-generation foundation model Qwen3.8-Max, featuring 2.4 trillion parameters with significantly enhanced coding and professional collaboration capabilities. On authoritative third-party benchmark Arena, the model ranks just behind Anthropic's Claude series, placing it in the global first tier. The API is already live on the Qianwen AI platform at 24%-40% of competitor Opus5's international pricing.

On the institutional front, Citi reiterated a Buy rating with a $192 target price, citing positive cloud revenue growth expectations. Morgan Stanley similarly highlighted accelerating Alibaba Cloud revenue as a key stock catalyst. Additionally, Moonshot AI reportedly signed a computing power agreement with Alibaba to access a cluster of approximately 20,000 NVIDIA chips, further validating Alibaba Cloud's commercialization capabilities.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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