According to the latest information from the Hong Kong Exchanges and Clearing Limited, after Alibaba announced an HK$80 billion new share placement plan, the company’s Chairman, Joe Tsai, and CEO Eddie Wu stepped in to increase their holdings by a total of approximately HK$120 million worth of Alibaba stock, casting a vote of confidence in the company’s AI strategy.
It is understood that Joe Tsai purchased 720,000 shares of Alibaba’s Hong Kong-listed stock this time, at an average price of about HK$112 per share, costing approximately HK$80 million; CEO Eddie Wu bought 350,000 shares of Alibaba’s Hong Kong-listed stock at an average price of about HK$111.6 per share, costing approximately HK$40 million. Together, the two increased their holdings by 1.07 million shares for a total amount of about HK$120 million.
The day before, Alibaba had announced an HK$80 billion new share placement, with all proceeds to be投入 entirely into the construction of full-stack AI capabilities and AI infrastructure. According to reports, the placement was actively subscribed by long-term investors such as global sovereign wealth funds, and ultimately achieved nearly 3 times oversubscription. Market observers believe that the management’s increase in holdings in their personal names on the day after the placement announcement reflects strong confidence in the company’s AI strategy.$BABA