Masayoshi Son Shows Confidence in Alibaba's AI Strategy, Invests HK$82 Million to Purchase an Additional 720,000 Shares Today

BlockBeats News, August 25th. According to the Hong Kong Stock Exchange filing, Alibaba Group Chairman Tsai Chongxin re-purchased 720,000 shares of Alibaba on Tuesday, spending 82 million Hong Kong dollars. He had previously purchased 720,000 shares.

After Alibaba announced an HKD 80 billion new share placement plan, Chairman Tsai Chongxin and CEO Wu Yongming increased their holdings by a total of about 120 million Hong Kong dollars in Alibaba, showing confidence in the company's AI strategy. CEO Wu Yongming bought 350,000 shares of Alibaba's Hong Kong shares at an average price of about 111.6 Hong Kong dollars, spending about 40 million Hong Kong dollars. The two of them collectively increased their holdings by 1.07 million shares, with a total amount of about 1.2 billion Hong Kong dollars.

The funds raised from Alibaba's HKD 80 billion new share placement will all be invested in full-stack AI capabilities and AI infrastructure development. The placement received active subscriptions from long-term investors such as global sovereign wealth funds, ultimately achieving nearly three times oversubscription.