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Jack Ma buys HKD 600mln of Alibaba (BABA) shares, signalling AI confidence, reports SCMP citing sources

StockNow breaking-news AI analysis

Alibaba raised HKD 80 billion via a share placement to expand full-stack AI infrastructure amid 45 percent cloud revenue growth, despite short-term earnings pressure and shareholder dilution.

News detail

"Alibaba Group Holding founder Jack Ma has bought more than HK$600 million worth of the company’s Hong Kong-listed shares on consecutive days, according to people familiar with the matter, a show of confidence in the firm’s long-term prospects for artificial intelligence."

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