Alibaba Group Holding Ltd. shares rose as much as 5% in Hong Kong. This movement marks the stock's most significant gain in two weeks. The rally followed affiliate Alipay’s launch of an all-in-one e-commerce platform for businesses.
The new platform utilizes AI agents to automate merchant tasks. These tools are designed to improve operational efficiency across the ecosystem.
Alibaba is currently pivoting its focus toward core AI and cloud computing sectors. The company recently agreed to sell its Lingxi gaming unit for an estimated $1 billion to $2 billion.
Alibaba's stock has rallied more than 40% since reaching a low in June. The current valuation reflects the company's strategy to integrate advanced AI into its primary business units.