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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。