Alibaba released its flagship model Qwen3.8 on August 3rd and simultaneously launched the public beta of "Qwen Office." This move is seen by the market as a crucial part of its AI narrative, with the potential to convert AI investments into revenue. The Qwen3.8 model supports a 1 million Token context and offers more competitive API pricing at 12 yuan per million input Tokens and 36 yuan per million output Tokens. Analysts generally believe that enterprise-level office scenarios can generate more stable and higher-intensity Token call volumes, thereby driving growth in Alibaba Cloud's MaaS revenue and profit. Citi defines Alibaba as a primary beneficiary of China's Token economy, while Morgan Stanley and HSBC also expect AI-related businesses to significantly improve Alibaba Cloud's performance and profit margins.