BABA(US:BABA) 阿尔法工场研究院·2025-09-25 00:04Core Viewpoint - Cathie Wood's Ark Investment Management has re-entered a position in Alibaba Group after four years, indicating a renewed interest in the Chinese internet sector, driven by optimism surrounding Alibaba's advancements in artificial intelligence [2][4]. Group 1: Investment Activity - Ark Investment Management purchased approximately $16.3 million worth of Alibaba's American Depositary Receipts (ADRs), marking the first investment in Alibaba since September 2021 [2]. - The stock price of Alibaba's ADRs reached its highest level since November 2021, with a year-to-date increase of nearly 100% [2]. - Earlier this year, Ark began building a position in Baidu, increasing its holdings to approximately $47 million, and has also invested in BYD, Pony AI, and JD Logistics, although these positions are relatively smaller [5]. Group 2: Market Context - The Chinese internet sector faced significant regulatory challenges from 2021 to 2022, leading to a substantial market downturn, which had previously caused Ark to limit its holdings in Chinese internet stocks [4]. - The renewed investment in Alibaba may signal a strategic shift for Ark to increase its exposure to the Chinese market as investor confidence in Alibaba's AI-driven growth potential rises [4]. Group 3: Performance Metrics - Despite a 49% return year-to-date for Ark's flagship fund, the Ark Innovation Fund, it remains in a loss position over a five-year horizon, with a net outflow of $438 million this year [5].