Jack Ma Increases Stake in Alibaba as He Remains Bullish on Alibaba's AI Future, Continues to Buy Alibaba Stock in Hong Kong Worth Over HK$600 Million

BlockBeats News, August 25th. According to Science and Technology Innovation Board Daily, sources revealed that as Alibaba initiated a placement financing, Alibaba's founder Jack Ma has been increasing his holdings of Alibaba's Hong Kong shares in recent days, with a total amount exceeding 600 million Hong Kong dollars, demonstrating his strong confidence in Alibaba's AI prospects.

Earlier, following Alibaba's announcement of an 80 billion Hong Kong dollar new share placement plan, the group's Chairman Eric Tseng and CEO William Ng bought a total of approximately 120 million Hong Kong dollars worth of Alibaba shares, showing their confidence in the company's AI strategy. CEO William Ng purchased 350,000 shares of Alibaba's Hong Kong shares at an average price of about 111.6 Hong Kong dollars, spending approximately 40 million Hong Kong dollars. The two together increased their holdings by a total of 1.07 million shares, with a total amount of around 120 million Hong Kong dollars. Today, Eric Tseng once again spent 82 million Hong Kong dollars to increase his holdings by 720,000 shares.

The proceeds from Alibaba's 80 billion Hong Kong dollar 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 triple oversubscription.