[Jack Ma Increases Stake, Purchases Over HK$600 Million in Alibaba Hong Kong Shares Over Consecutive Days] BlockBeats News, August 25: According to a report by the 'Sci-Tech Innovation Board Daily,' sources revealed that as Alibaba initiated a placement financing, Alibaba founder Jack Ma has been increasing his stake in Alibaba Hong Kong shares over consecutive days, with a total amount exceeding HK$600 million, demonstrating his strong confidence in Alibaba's AI prospects. Previously, it was reported that after Alibaba announced an HK$80 billion new share placement plan, Group Chairman Joe Tsai and CEO Eddie Wu collectively increased their stakes in Alibaba shares by approximately HK$120 million yesterday, signaling their confidence in the company's AI strategy. Among these, CEO Eddie Wu purchased 350,000 Alibaba Hong Kong shares at an average price of approximately HK$111.6 per share, spending about HK$40 million. Together, the two increased their holdings by a total of 1.07 million shares, amounting to approximately HK$120 million. Today, Joe Tsai further increased his stake by purchasing 720,000 shares for HK$82 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.