Jack Ma, founder of Alibaba, has been actively increasing his stake in the company's Hong Kong-listed shares, with cumulative purchases exceeding HK$600 million in recent days, according to sources familiar with the matter. This move comes as Alibaba initiates a placement financing round, underscoring Ma's strong conviction in the company's AI development prospects.

Adding to this momentum, earlier disclosures revealed that Joe Tsai and Eddie Wu, key members of the management team, had already acquired a combined HK$200 million in shares over two consecutive sessions. This brings the total recent buying spree by Ma and Alibaba's management to over HK$800 million, signaling unified confidence from the leadership.

On August 23, Alibaba announced a placement of new shares valued at HK$80 billion, with all proceeds earmarked for AI infrastructure investment. The offering attracted robust demand from long-term investors, including global sovereign wealth funds, achieving nearly three times oversubscription, a testament to strong market confidence in Alibaba's strategic direction.

Alibaba has consistently ramped up its AI commitments in recent years. Following the announcement of RMB 380 billion in investments for cloud and AI infrastructure in early 2025, this latest HK$80 billion placement further solidifies the company's focus, with the entire proceeds dedicated to advancing AI initiatives.