Alibaba's chairman and CEO bought $15.3m of shares after the Alibaba share placement sent the stock to its steepest fall in over a year.

Alibaba announced a $10.2 billion Hong Kong share placement, its largest ever, to fund full-stack AI capabilities as quarterly net profit

Alibaba is selling HK$80bn of new shares in Hong Kong, with all net proceeds going to AI infrastructure, days after profit fell 75% on the same spending.