Citibank: Alibaba-W (09988) promotes Thousand Questions 3.8 Max, leveraging its full-stack advantages, reiterates "buy" rating.

According to the Zhitong Finance APP, Citigroup released a research report stating that Alibaba-W (09988) released a preview version of its flagship model Qwen 3.8 Max on July 19, with 24 trillion parameters, and will be open sourced in the short term. Citigroup maintains a "buy" rating on Alibaba with a target price of HK$191.