Alibaba has staged a quiet $100 billion rally — AI and Jack Ma's return are at the heart of it [CNBC]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: CNBC
It's a turnaround from the last few years, which have seen the e-commerce giant's core business under pressure and close scrutiny from the Chinese government. Recent success has been credited to Alibaba's artificial intelligence push, helped by the attention DeepSeek has brought on China, as well as the return of co-founder Jack Ma to the public eye. The Alibaba office building in Nanjing, Jiangsu province, China, on Aug. 28, 2024. In November 2023, Jack Ma posted an internal memo at , urging the e-commerce giant he helped create to “correct its course.” The message was as a rallying cry by one of China's most prominent tech leaders to a company going through one of the most tumultuous times in its history. Alibaba's share price was near record lows, growth was stalling amid intensifying competition, management changes were coming thick and fast, and Beijing was still closely scrutinizing the company. Ma himself was barely in the public view. But his message may have instil
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