S&P 5007,489.72▲0.7% Nasdaq25,373.85▲1.0% Dow52,485.03▲0.5% Russell 2K2,931.34▼0.5% 10-Yr4.75%+8bp VIX15.99−1.10 WTI$86.80▲3.8% Gold$4,098.60▼0.0% EUR/USD1.153▲0.5% BTC$62,615▼1.4% Nikkei61,867▲0.7%
At close · Fri, Jul 31, 2026
Daily Market Updates.

US Markets

Home›US Markets›Equities›Alibaba shares rise after unveiling Qwen3.8-Max AI mod…

Alibaba shares rise after unveiling Qwen3.8-Max AI model

The company introduced its latest Qwen model on Monday amid intensifying U.S.-China AI competition.

Reported · Written up by our desk · Equities

Alibaba shares moved higher after the company unveiled what it described as its latest and most powerful AI model, Qwen3.8-Max, on Monday, according to CNBC Markets.

The announcement comes as Chinese technology firms race to narrow the AI gap with U.S. rivals, CNBC World noted.

Investors focused on the new model launch as Alibaba sought to reinforce its position in the fast-evolving AI landscape while geopolitical competition between the two countries continues to heat up.

← Newer storyBithumb targets a 2028 IPO after restructuring and control upgrades

More like this

US MarketsGACM Technologies jumps after executing software development MoU
US MarketsNewsmax partnership with Meta could speed up path to profitability
US MarketsAI stocks slide tied to margin calls, heavy leverage unwinds
US MarketsRivian shares slide after Q2 beat as investors weigh margin and dilution risk
US MarketsMicron shares fall 32% despite strong AI memory demand

Sources

CNBC MarketsAlibaba shares rally after unveiling its 'most powerful' AI model as U.S.-China competition heats up
CNBC WorldAlibaba shares rally after unveiling its 'most powerful' AI model as U.S.-China competition heats up

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.