Jack Ma buys $76 million of Alibaba shares to back its AI push
- Alibaba founder Jack Ma bought more than HK$600 million $76.5 million worth of Alibaba shares in recent days.
- His purchase signals support for Alibaba’s plan to invest heavily in AI infrastructure, chips and large language models.
- Alibaba recently raised $10.2 billion through a share sale to fund its AI expansion and strengthen its technology capabilities.
- Chairman Joe Tsai and CEO Eddie Wu also bought shares, with their combined purchases worth at least $25 million.
Source: moneycontrol.com
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