Billionaire investor Ryan Cohen has expanded his investment in Alibaba Group, bringing his stake to about $1 billion by acquiring roughly 7 million shares. This strategic move follows his earlier investments in 2023, where he encouraged Alibaba to accelerate share buybacks. The surge in Cohen's investment coincides with a positive trend in Chinese tech stocks, fueled by the rise of AI companies and a supportive meeting between President Xi Jinping and business leaders. Additionally, Alibaba has announced plans for more investments in its e-commerce and AI sectors, coupled with strong quarterly revenue reports.
Billionaire investor Ryan Cohen has been actively increasing his personal stake in Alibaba Group to about $1 billion, acquiring around 7 million shares.
Cohen, who had previously urged Alibaba to enhance its share buybacks, has seen his investment grow alongside surging Chinese tech stocks propelled by AI advancements.
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