:max_bytes(150000):strip_icc()/GettyImages-2200128165-e0d3f32b6dbf4d8da4d25f6ad85fe38d.jpg?resize=1500,1000&ssl=1 "Alibaba Stock Jumps on AI Spend Plans, Reported B Stake by GameStop CEO")
KEY TAKEAWAYS
- U.S.-listed shares of Alibaba Group are rising in premarket trading Friday after GameStop CEO Ryan Cohen reportedly raised his stake in the Chinese tech giant and as investors cheered the company’s “aggressive” plans to boost AI spending.
- Alibaba CEO Eddie Wu said in the earnings call Thursday, a transcript of which was made available by AlphaSense, that the Chinese tech giant plans to “aggressively invest in AI infrastructure.”
- Cohen, also known as “the meme-stock king,”…
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https://www.investopedia.com/alibaba-stock-jumps-on-ai-spend-plans-reported-usd1b-stake-by-gamestop-ceo-11683933
