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My understanding is that these "preview" models are usually earlier RL checkpoints, and that "official release" happens when they're happy with the training run?

I believe they mentioned around the preview announcement that they'd be releasing improvements to capability, which I assume means continued training.

In Qwen's case, both 3.8 Max releases seem rushed may be in response to Kimi K3 getting all that attention.

3.8 Max Preview ran 90% discount on QwenCloud exactly as when Moonshot couldn't keep up with all the signups.