Alibaba Group founder Jack Ma has purchased more shares in the Chinese e-commerce giant in recent days, with the value of his purchases exceeding HK$600 million, ChinaStarMarket reported Tuesday, citing people familiar with the matter.
The purchases come as Alibaba steps up investment in artificial intelligence. Together with recent purchases by Chairman Joe Tsai and Chief Executive Eddie Wu, the company's founder and senior executives have bought more than HK$800 million worth of Alibaba shares in recent days, ChinaStarMarket reported.
Tsai bought 720,000 Alibaba shares in a transaction disclosed earlier and subsequently purchased another 720,000 shares worth about HK$81.7 million on Monday, according to Hong Kong Stock Exchange filings. Wu also bought 350,000 shares at an average price of about HK$111.64 each.
Alibaba announced on Aug. 23 that it would raise HK$80 billion through a share placement, with the proceeds to be used for artificial intelligence-related investments. The placement was nearly three times oversubscribed, attracting more than HK$200 billion in orders, according to ChinaStarMarket.
Sovereign wealth funds and other long-term investors accounted for more than 40% of the final allocation, while investors from the Middle East, Europe and Asia also participated in the offering, the report said.
Alibaba has been accelerating its spending on AI and cloud infrastructure. In February 2025, Chief Executive Eddie Wu said the company planned to invest 380 billion yuan over three years in cloud and AI infrastructure, a commitment larger than its total spending over the previous decade.
Alibaba's capital expenditure reached 67.7 billion yuan in the quarter ended June, up 75% from a year earlier, ChinaStarMarket reported.
The company has also seen rapid growth in its AI-related businesses. Annualized revenue from AI-related products had exceeded 49.5 billion yuan, with the figure expected to reach $10 billion in the following quarter, according to ChinaStarMarket.
The increased buying by Ma and Alibaba's senior executives comes as the company commits substantial capital to AI and cloud infrastructure, highlighting management's confidence in the group's long-term AI strategy.