Alibaba's shares in Hong Kong rose over 19% following strong quarterly results driven by its cloud computing unit and developments in AI chip technology. The company's revenue reached 247.65 billion yuan, with a notable 26% growth in cloud revenue, while its core e-commerce business showed signs of recovery despite investments in competitive instant commerce services.

Jack Ma is making a strong return to Alibaba after a period of absence due to regulatory scrutiny, aiming to revitalize the company and enhance its competitiveness in the tech sector. His renewed involvement is marked by significant investments in artificial intelligence and aggressive strategies against rivals like JD.com and Meituan, including a substantial financial commitment to maintain market leadership.