Alibaba’s AI Ambitions Fuel Stock Surge as Major Investors Return

Alibaba shares are staging a remarkable recovery, driven by a strategic pivot designed to position the Chinese technology behemoth as a frontrunner in the global artificial intelligence race. The recent cloud computing conference in Hangzhou served as a platform for CEO Eddie Wu to declare the company’s ambition not merely to compete but to lead in the AI sector. This bold declaration has ignited investor enthusiasm and prompted a critical question: can Alibaba’s renewed offensive truly make an impact?

The immediate catalyst for the stock’s upward trajectory was a commitment to significantly increase capital expenditures. CEO Wu announced plans to boost spending beyond the previously outlined 380 billion yuan, a move the market greeted with strong approval. The Hong... Read more...