Ryan Cohen's Stake in Alibaba Reaches $1 Billion, WSJ Reports
Billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly $1 billion in recent months, the Wall Street Journal reported on Thursday, citing people familiar with the matter. This significant boost represents about 7 million shares, which gives Cohen a substantial influence over the company's direction. The move comes as Chinese tech stocks have been experiencing a resurgence, driven by factors such as emerging domestic artificial intelligence startup DeepSeek and a meeting between Chinese President Xi Jinping and business leaders in the sector.
- This surge in investor sentiment could lead to further capital injections into the Chinese tech sector, potentially exacerbating market volatility and affecting global economic stability.
- What implications will this renewed interest in Alibaba have for the company's long-term strategy, particularly with regards to its ambitious plans for AI and cloud computing investments?