Universal Music is launching an AI music platform with ElevenLabs19m ago Now everyone can put data to work57m ago Robotics Startup Skild AI Hits $100 Million in Revenue Run Rate27m ago Is AI The Silver Bullet For Project Portfolio Management?27m ago An Anthropic researcher just quit, saying OpenAI and Anthropic are 'gambling with our lives'29m ago Cohere Debuts Open-Weight 218B Mixture-of-Experts Machine Translation Model30m ago Bending Spoons agrees to buy Miro for $1.355bn, weeks after Airtable34m ago Winmau And Autodarts Bring Smart Scoring To Your Dumb Dartboard35m ago Typewise orchestrates customer-service AI agents41m ago Zuckerberg tells Sources labs holding back AI models is ‘quite dangerous’49m ago Nintendo's latest sale is 'made possible' by the tariff refunds it's hoarding56m ago Meta Announces Muse AI Agent for Personal Tasks and Organization57m ago How To Secure The AI Features Hiding Inside Your Sanctioned SaaS Apps57m ago Instagram now lets you add tagged photos to your profile grid57m ago

Universal Music is launching an AI music platform with ElevenLabs19m ago Now everyone can put data to work57m ago Robotics Startup Skild AI Hits $100 Million in Revenue Run Rate27m ago Is AI The Silver Bullet For Project Portfolio Management?27m ago An Anthropic researcher just quit, saying OpenAI and Anthropic are 'gambling with our lives'29m ago Cohere Debuts Open-Weight 218B Mixture-of-Experts Machine Translation Model30m ago Bending Spoons agrees to buy Miro for $1.355bn, weeks after Airtable34m ago Winmau And Autodarts Bring Smart Scoring To Your Dumb Dartboard35m ago Typewise orchestrates customer-service AI agents41m ago Zuckerberg tells Sources labs holding back AI models is ‘quite dangerous’49m ago Nintendo's latest sale is 'made possible' by the tariff refunds it's hoarding56m ago Meta Announces Muse AI Agent for Personal Tasks and Organization57m ago How To Secure The AI Features Hiding Inside Your Sanctioned SaaS Apps57m ago Instagram now lets you add tagged photos to your profile grid57m ago

Finance Business & Enterprise5 min reading time

Alibaba shares fell 8.4%. Then Joe Tsai and Eddie Wu went shopping

The Next WebPublished 16 days ago

Alibaba's chairman Joe Tsai and CEO Eddie Wu purchased about HK$120 million ($15.3 million) of company shares after the stock dropped 8.4%, marking its biggest decline in over a year. The share placement raised HK$80 billion ($10.2 billion) to fund Alibaba's AI initiatives, with strong demand from institutional investors.

More on this story

Alibaba Raises $10 Billion in Record Hong Kong Share Sale
18d· 3 sources
Alibaba’s profit fell 75% as quarterly AI spending hit $10bn
21d· The Next Web

#alibaba #corporate-finance #eddie-wu #joe-tsai #share-placement #stock-market

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