Joe Tsai

Money Moves

Bought 720,000 shares worth about HK$80 million after the placement

Alibaba's Hong Kong shares fell as much as 10% Monday after the company priced an HK$80 billion (US$10.2 billion) placement of new shares to bankroll its artificial intelligence buildout. The company sold 710 million shares at HK$112.70 each, an 8.4% discount to Friday's close.

Updated Aug 25

New Capabilities

Overseeing Alibaba's role as Apple's China AI partner

For nearly two years, Apple could not turn on its AI features in China. Chinese law bars foreign firms from running their own generative AI models, so Apple had to lean on local partners. Now it has trained its own model, and Beijing has signed off.

Updated Aug 14