Alibaba has staged a quiet $100 billion rally — AI and Jack Ma's return are at the heart of it

In this article BABA Follow your favorite stocks CREATE FREE ACCOUNT The Alibaba office building in Nanjing, Jiangsu province, China, on Aug. 28, 2024. CFOTO | Future Publishing | Getty Images In November 2023, Jack Ma posted an internal memo at Alibaba , 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 instilled some new hope in Alibaba — the e-commerce giant is now seeing growth in its core business and has become one of the leading artificial intelligence players in China and globally, competing with the likes of OpenAI and DeepSeek. And Alibaba i ... Read full article.