Alibaba Stock Soars To Multi-Year High After Supercharging $53B AI Plan
This article first appeared on GuruFocus. Sep 24 Alibaba Group Holding (NYSE:BABA) shares climbed nearly 8% in Hong Kong on Wednesday, touching their highest level in close to four years. The rally came after CEO Eddie Wu said the company plans to expand its artificial intelligence spending beyond the previously announced $53 billion, or 380…