Alibaba's U.S. Shares Surge
This is a Alibaba news story, published by CNBC, that relates primarily to Jack Ma news.
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•Technology
Technology
Alibaba has staged a quiet $100 billion rally — AI and Jack Ma's return are at the heart of it
81% Informative
Alibaba 's U.S. listed-shares have quietly risen nearly 60% this year , adding more than $100 billion to the company's valuation.
Recent success has been credited to Alibaba 's artificial intelligence push, helped by the attention DeepSeek has brought on China , as well as the return of co-founder Jack Ma to the public eye.
Alibaba's share price hit a record high with its market capitalization exceeding $858 billion .
Alibaba's CEO said the company needed to adopt a startup mentality to keep up with the competition.
Wu and Tsai sought to return Alibaba 's focus to its core e-commerce and cloud businesses.
Alibaba has launched its first AI model called Qwen , or Tongwen , in 2023 .
Alibaba's cloud computing business posted accelerated growth in the December quarter from the quarter before .
Alibaba effectively charges companies to use its servers and computing power which is required to run AI applications.
There are questions about how Alibaba will make money off open-source AI models that are free.
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