Alibaba shares rally after unveiling its 'most powerful' AI model as U.S.-China competition heats up
Reported by CNBC · cnbc.com · August 3, 2026
Alibaba unveiled its latest and 'most powerful' AI model Qwen3.8-Max on Monday as Chinese companies race to close the AI gap with the U.S.
What the tape says
What to watch: AI infrastructure spend continues to concentrate in compute, memory, and power equipment.
Market reaction today: $BABA -0.73%
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