Cathie Wood’s Ark Invest Re-enters Alibaba with $16.3M Bet Amid AI Pivot

Ark Investment Management made a decisive MOVE into Alibaba this week, purchasing $16.3 million worth of shares across two ETFs. The buying spree comes as the Chinese tech giant's U.S.-listed ADRs hit November 2021 levels, marking a near-100% surge year-to-date.

Traders are rallying behind Alibaba's artificial intelligence ambitions as its Core e-commerce business faces intensifying competition from PDD Holdings' Pinduoduo and Temu. The strategic shift appears to have reignited Cathie Wood's conviction - her firm had completely exited Alibaba positions during Beijing's 2021 tech crackdown before this week's re-entry.

Ark simultaneously expanded its Baidu stake to $47 million, signaling renewed confidence in China's tech sector. While maintaining smaller positions in BYD and JD Logistics, the fund's latest filings reveal a concentrated bet on China's AI-driven turnaround stories.