On August 25, Phoenix Technology News reported, citing sources from the Kechuangban Daily, that as Alibaba embarks on a placement financing initiative, founder Jack Ma has been steadily increasing his stake in Alibaba’s Hong Kong-listed shares over consecutive days, with the cumulative investment surpassing HK$600 million. Simultaneously, Joe Tsai and Wu Yongming have also augmented their shareholdings for two consecutive days, with the total amount reaching approximately HK$200 million. To date, the combined increase in stakes by Jack Ma and Alibaba’s management team has exceeded HK$800 million, underscoring their unwavering confidence in Alibaba’s AI-driven future. On the 23rd, Alibaba unveiled a new share placement plan worth HK$80 billion, with all proceeds earmarked for AI development endeavors.