Silicon Republic reports that Alibaba has unveiled Qwen3.8-Max in preview, with the company positioning it as second only to Anthropic's Fable 5. The model has 2.4 trillion parameters and is expected to go open weight soon; it is currently available through Alibaba's Token Plan, Qoder and QoderWork. Alibaba shares rose more than 3.5pc in overnight trading on Monday. The launch lands days after Moonshot's Kimi K3 set the record for the largest open-weight model at 2.8 trillion parameters, and the pace is hurting smaller rivals: Silicon Republic notes Zhipu shares are down more than 45pc over five days, with MiniMax off nearly 13pc. Two frontier-class Chinese models inside a week is the story here, not either model alone.