[Joe Tsai Casts a Vote of Confidence in Alibaba's AI Strategy, Spends HK$82 Million to Acquire 720,000 Shares Again Today] BlockBeats News, August 25: According to Hong Kong Stock Exchange filings, Alibaba Group Chairman Joe Tsai purchased another 720,000 shares of Alibaba on Tuesday, spending HK$82 million, following his initial acquisition of 720,000 shares. After Alibaba announced an HK$80 billion new share placement plan, the group's Chairman Joe Tsai and CEO Wu Yongming collectively increased their holdings of Alibaba stock by approximately HK$120 million yesterday, signaling confidence in the company's AI strategy. Among them, CEO Wu Yongming purchased 350,000 shares of Alibaba's Hong Kong-listed stock at an average price of about HK$111.6, spending approximately HK$40 million. Together, the two increased their holdings by a total of 1.07 million shares, amounting to approximately HK$120 million. The proceeds from Alibaba's HK$80 billion new share placement will be fully invested in full-stack AI capabilities and AI infrastructure development. The placement was actively subscribed to by global sovereign wealth funds and other long-term investors, ultimately achieving nearly 3x oversubscription.