Billionaire investor Ryan Cohen has increased his personal interests with Chinese e-commerce giant Alibaba Group to about $1 billion in recent months. Reported by the Wall Street Journal On Thursday, I quote people who are familiar with the issue.
Cohen's position represents approximately 7 million shares, the report said.
GameStop CEOs Alibaba and Cohen did not immediately respond to Reuters' request for comment.
Cohen had built shares in Alibaba worth hundreds of millions of dollars in early 2023, urging the company to speed up by increasing stock buybacks, sources told Reuters.
China's tech stocks have been rising recently after the emergence of domestic artificial intelligence startup Deepseek. Meetings between China's national president Xi Jinping and sector business leaders also boosted investors' sentiment.
On Thursday, Alibaba flagged plans to invest more in e-commerce and AI-powered cloud computing businesses, reporting third-quarter revenues over analyst estimates on the background of year-end sales.
