Alibaba's management has increased its holdings in the company, with Joseph Tsai and Wu Yongming buying HK$80 million and HK$40 million worth of Alibaba stock respectively.

According to the latest Hong Kong Stock Exchange (HKEX) filings, after Alibaba announced an HK$80 billion new share placement plan, group chairman Joseph Tsai and CEO Daniel Yongming Wu purchased a total of approximately HK$120 million worth of Alibaba shares, signaling their confidence in the company’s AI strategy. Details show Tsai bought 720,000 Alibaba Hong Kong-listed shares at an average price of around HK$112, spending roughly HK$80 million; CEO Wu acquired 350,000 Alibaba Hong Kong shares at an average price of about HK$111.6, costing approximately HK$40 million. The two combined to add 1.07 million shares to their holdings, totaling around HK$120 million. The day prior, Alibaba unveiled the HK$80 billion new share placement, with all proceeds earmarked for investments in full-stack AI capabilities and AI infrastructure construction. The placement was actively subscribed by long-term investors including global sovereign wealth funds, resulting in nearly 3 times oversubscription, reports said. Market observers noted that management’s personal share purchases on the day following the placement announcement reflect strong confidence in the company’s AI strategy.