Jack Ma buys HK$600 million of Alibaba shares, signalling AI confidence: sources

Alibaba Group Holding founder Jack Ma has bought more than HK$600 million worth of the company’s Hong Kong-listed shares on consecutive days, according to people familiar with the matter, a show of confidence in the firm’s long-term prospects for artificial intelligence.

The purchases showed Ma’s “strong confidence for Alibaba to realise its AI ambitions and capture the long-term growth opportunities ahead”, one source said.

Meanwhile, Alibaba chairman Joe Tsai and CEO Eddie Wu Yongming spent a...