Alibaba's HK shares at 11-week peak on clearer outlook for returns on AI spending

Alibaba Holding

14/05/2026 03:17

** Hong Kong shares of Alibaba 9988.HK jump 8.4% to HK$144, their highest level since February 27

** Stock set for the biggest one-day pct gain since September 24, set to snap four straight sessions of declines

** Top pct gainer in the Hang Seng Index .HSI and the Hang Seng TECH Index .HSTECH, which are up 1.2% and 1.9%, respectively

** U.S.-listed stock BABA.N surged 8.2% on Wednesday

** Alibaba said it would exceed its planned AI investment of up to 380 bln yuan ($55.96 bln) over the next three years, as early signs of returns from the technology pushes it to ramp up its cloud-computing capacity

** Executives said Alibaba has a clear outlook for returns on AI spending over the next three to five years

** Citi reiterates "buy" rating and raises target price for U.S. shares to $208 from $205, and Hong Kong stock to HK$207 from HK$204

** YTD, Hong Kong stock down 0.6%, U.S.-listed shares down 0.5%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))