Jack Ma Buys HK$600M+ of Alibaba Shares After HK$80B Placement
Alibaba founder Jack Ma has reportedly bought more than HK$600 million of the company’s Hong Kong-listed shares days after Alibaba’s HK$80 billion share placement. Chairman Joe Tsai and CEO Eddie Wu also bought shares totaling HK$202 million. Alibaba posted a 45% jump in AI Cloud and Compute Services revenue in the first quarter and expects AI to drive over half of external cloud revenue. Michael Burry said he will not return to Alibaba, and Stocktwits retail sentiment stayed extremely bullish.