Changes in US stocks | Alibaba (BABA.US)'s decline narrowed to 0.23% by core executives to increase their holdings

The Zhitong Finance App learned that on Monday, Alibaba (BABA.US) opened and fell, with the biggest intraday decline of nearly 2%. As of press release, the decline had narrowed to 0.23%. According to the news, on August 24, the Hong Kong stock Alibaba-W closed down 8.54%. The company announced a HK$80 billion IPO. All proceeds will be invested in full-stack AI capabilities and AI infrastructure construction. The placement was actively subscribed by long-term investors such as global sovereign wealth funds, and eventually oversubscribed by nearly 3 times. After announcing the HK$80 billion IPO plan, Alibaba Group Chairman Choi Chung-sun and CEO Wu Yongming took steps to increase their holdings of Alibaba shares by a total of about HK$120 million, casting confidence in the company's AI strategy. Market participants believe that the management increased their holdings in their personal name the day after the placement was announced, showing full confidence in the company's AI strategy.