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Alibaba Stock Jumps on Xi Jinping’s Possible Meeting with Jack Ma, AI Partnership with Apple

Staff

February 14, 2025

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Alibaba’s stock soared by 6.3% on Friday following reports that Chinese President Xi Jinping is planning to meet the company’s co-founder Jack Ma, signaling potential easing of tensions with the tech sector. The company’s shares have already gained over 40% this year, further boosted by Thursday’s announcement that Alibaba will provide AI technology for Apple’s iPhones in China.

Since taking power over a decade ago, Xi has emphasized strengthening state-owned enterprises and curbing the "disorderly" growth of private businesses. The crackdown on China’s tech sector peaked in 2020 when authorities abruptly canceled the IPO of Ant Group, Alibaba’s financial affiliate, shortly after Ma criticized financial regulators in a speech.

Jack Ma has largely stayed out of the public eye since then, focusing on philanthropy and rural education. However, Bloomberg reported that Xi is preparing to meet him and other leading entrepreneurs, potentially as early as next week. Liang Wenfeng, founder of the AI company DeepSeek, whose chatbot has recently gained global attention, may also be part of the talks.

The potential meeting would signal renewed support for the private sector amid China’s economic challenges, including a prolonged property crisis, weak consumer spending, and rising local government debt. It could also mark a turning point for Ma, once known for his charismatic public persona.

In addition to the meeting news, Alibaba’s chairman Joseph Tsai said at a summit in Dubai that regulatory hurdles mean Apple needs to collaborate with Chinese firms for AI development to stay competitive in the local market.

This combination of developments helped extend Alibaba’s strong performance in 2025, positioning it for continued growth in China’s evolving tech landscape.

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