Why Alibaba’s Stock Is Soaring Monday | Global News Avenue

Alibaba’s (Baba) U.S. stocks soared on Monday after Chinese authorities said they planned to expand stimulus spending next year, with co-founder Jack Ma underlining that commitment. Artificial Intelligence (AI). Alibaba’s Ant Group also announced a new CEO.

China promises “more proactive” stimulus measures in 2025

Shares of Alibaba and other U.S.-listed Chinese companies surged on Monday after the state news agency reported Xinhua News Agency The Chinese government will “More proactive” 2025 stimulus payments.

Jack Ma promotes artificial intelligence at Ant Group event

billionaire Jack MaThe co-founder of Alibaba and its affiliate Ant Group also made a rare public appearance at an event on Sunday to highlight the promise of artificial intelligence technology.

Jack Ma said: “From today’s perspective, the tremendous changes brought about by the AI ​​era in the next 20 years will be beyond everyone’s imagination.” Reuters Quotes from Chinese media 36 kroner.

Alibaba has implemented what is known as “Artificial Intelligence First Strategy” Designed to make core computing resources more accessible to customers of all sizes. In April, the company’s cloud unit lowered prices for international customers to expand its reach.

Ant Group appoints new CEO

At this event, Alibaba’s Ant Group appointed financial director Cyril Han as its new CEO, effective March 1, replacing Jing Xiandong.

As of September 30, Alibaba held a 33% stake in Ant Group, which operates the Chinese payment platform Alipay.

Alibaba shares rose nearly 9% intraday on Monday and have risen more than 20% since the beginning of the year.