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Two days after Kimi K3 shook the chip market, Alibaba answered with its own reveal: Qwen3.8 Max, a 2.4 trillion-parameter model. The catch: Alibaba owns roughly 36 percent of Moonshot AI, the company behind Kimi K3.
A Chinese AI model from Moonshot turned out to be good enough and half the price of its American rivals, erasing $3.3 trillion from the market in two days. We look at what Moonshot actually shipped, why this is already the second shock like DeepSeek, and why the company is heading to the stock market right now.
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