Count the king of meme-stocks among the investors betting that Alibaba Group Holding’s stellar recent run can last.GameStop CEO Ryan Cohen has lifted his stake in the Chinese online retailer to 7 million shares worth about $1 billion in recent months,

GameStop CEO and billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba to roughly 7 million shares worth about $1 billion, the Wall Street Journal reported Thursday.

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

Upbeat earnings by big tech companies have added to a recent rally driven by Xi Jinping’s meeting with top corporate executives and the AI hype around DeepSeek.

Chinese AI startup DeepSeek is considering outside funding for the first time and has drawn interest from Alibaba and state funds, The Information reported on Wednesday, citing sources with knowledge of internal discussions.