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.
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February 14, 2025 10:40 ET (15:40 GMT)
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