Alibaba posted a 239% year-over-year jump in net profit in the final quarter of 2024, and Amazon’s quarterly revenue surpassed Walmart’s for the first time.

Chief executive Eddie Wu said AI was "the kind of opportunity for industry transformation that only comes around only once every few decades."

Alibaba on Thursday reported third-quarter revenues just above analysts' estimates on strong year-end sales, showing that the e-commerce group's strategy to attract cost-conscious consumers has helped to revive its performance.

Billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly $1 billion in recent months, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Ryan Cohen still has his sights set on Alibaba Group and has been building up his position in the Chinese e-commerce behemoth.