Alibaba’s September 22 Apsara Conference announcement that Qwen 4 is already in training serves as the main catalyst shaping trader views on the next Qwen Plus (3.8+) release. The company confirmed ongoing work on its successor to the August-released Qwen3.8-Max (2.4T parameters) while outlining a roadmap for Qwen 4.5 and Qwen 5 models targeting 5–10 trillion parameters, supported by the new Zhenwu V900 chip entering mass production in Q1 2027. Recent multimodal additions such as Qwen3.8-Omni-Flash in mid-September demonstrate continued iteration within the 3.8 line, yet no firm date or API details have been provided for a dedicated Plus tier. Traders weigh Alibaba’s rapid release cadence against typical large-model training timelines and competitive pressure from peers like Kimi, noting that self-improvement progress and hardware scaling could accelerate or delay the outcome.