Alibaba Group Holding Limited (NYSE:BABA) is among the 13 Best Global Stocks to Buy Right Now. On July 23, the Chinese e-commerce giant announced the launch of Qwen3-Coder, a new open-source AI model for software development, which is also the company’s most advanced coding tool to date.
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The news comes amid intense competition between Chinese technology firms in the global AI development race. Qwen3-Coder is built for tasks like code generation and managing complex coding workflows. Performance data released by Alibaba Group Holding Limited (NYSE:BABA) said the open-source coder outperformed rival models from DeepSeek and Moonshot AI.
The tests also showed that Alibaba Group Holding Limited (NYSE:BABA)’s Qwen3-Coder either matched the performance or was just behind leading U.S. models, including OpenAI’s GPT-4 and Anthropic’s Claude, in certain areas.
The company stated the following in a statement on Wednesday:
“Agentic AI coding is transforming software development by enabling more autonomous, efficient and accessible programming workflows. With its open-source availability, strong agentic coding capabilities, and seamless compatibility with popular developer tools and interfaces, Qwen3-Coder is positioned as a valuable tool for global developers in software development.”
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