Alibaba becomes China’s new AI darling with $87 billion rally

The frenzy over Chinese artificial intelligence is turning Alibaba Group Holding Ltd into an investor favorite again, injecting new life into an e-commerce giant that had nearly sunk into obscurity following a years-long regulatory crackdown.

Alibaba’s Hong Kong-listed shares have surged 46% since hitting a 2025 low on January 13, expanding its market value by nearly $87 billion and exceeding the Hang Seng Tech Index’s 25% gain in the same period. That makes the stock by far the best performer in China’s Big Tech…