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The Big Read. How Jack Ma’s pivot to AI rehabilitated Alibaba

The Chinese tech giant is establishing a lead in a fiercely competitive sector, and its billionaire founder is back in favou

© FT montage/Reuters

© FT montage/Reuters

In the final weeks of 2022, just as China was unwinding three years of pandemic controls, Jack Ma was at a low point.

Alibaba, his colossal internet empire, was under assault from regulators and from rivals stealing market share in ecommerce and cloud computing. Its share price was down 80 per cent from its peak. The billionaire himself had relocated to Tokyo, retreating from public view after falling out of favour with Beijing.

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Author: Zijing Wu in Hong Kong and Eleanor Olcott in Hangzhou

Source: Financial Times

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