By WSJ Staff
Shares in Alibaba $(BABA)$ climbed Friday, building on a recent runup and putting the stock on course for a multiyear high.
Alibaba and other Chinese technology stocks have been boosted by optimism about artificial intelligence, following the emergence of Chinese AI upstart DeepSeek.
Adding to the buzz, this week Chairman Joe Tsai confirmed Alibaba is working with Apple to roll out AI features for iPhones in China.
On Friday, Bloomberg and Reuters reported that businesspeople including Alibaba co-founder Jack Ma had been invited to a meeting with China's top leaders-in what could be a sign of official support for the private sector after several turbulent years.
-- American depositary receipts in Alibaba recently stood at $121.66, up about 1.8%
-- That put the ADRs on course for their highest close since July 2022. They are up more than 43% so far in 2025, according to Dow Jones Market Data.
-- At the same time, they remain far off their record high of more than $317.
-- That high-water mark was hit in October 2020, shortly before Xi Jinping scuttled the blockbuster listing of Ant, the Alibaba-backed financial-technology company.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
February 14, 2025 10:40 ET (15:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。