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Alibaba's chairman and chief executive officer joined the founder in purchasing stock to support the company's expanded investment in artificial intelligence. Jack Ma's personal investment of more than HK$600 million signals confidence in the group's full-stack AI capabilities, with the founder buying shares over several days.
The insider activity followed a HK$80 billion ($10.2 billion) share placement, the first new issuance since 2019. Alibaba will use 100% of the net proceeds from the raise to fund AI infrastructure and capabilities.
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