On August 18, Alibaba rose 3.14% in regular trading, trading at $127.22/share, with turnover of $428 million.

Multiple bullish catalysts converged to drive the stock higher. Alibaba formally agreed to sell its gaming unit Lingxi Games to Trustar Capital for over $1.5 billion, with proceeds earmarked for AI infrastructure investment as the company targets $100 billion in AI revenue within five years. Morgan Stanley released a quantitative analysis showing Chinese cloud providers can achieve 13%-20% ROIC on AI compute buildouts with approximately three-year payback periods, singling out Alibaba Cloud as the most advantaged player with 45% upside potential driven by its AI infrastructure and high-margin MaaS business.

Additionally, renowned investor Duan Yongping disclosed a new Q2 position of approximately 301,400 shares. Separately, Hugging Face reported that Alibaba's Qwen open-source model series surpassed 3 billion global downloads in six months, overtaking Meta's Llama and Google's models. The company reports quarterly earnings on August 20.

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