From fortune:

Alibaba, facing problems in its domestic market, has seen its shares plunge by 40% over a year, but co-founders Jack Ma and Joe Tsai investing $200 million in stock have added $13 billion to the company’s value in Tuesday trading.

The once-outspoken billionaire Ma bought $50 million worth of shares in the last quarter, while an entity linked to Tsai also purchased nearly two million Alibaba depository shares worth about $152 million, raising the company’s market value by $13.7 billion.

Both Alibaba’s U.S. and Hong Kong traded shares significantly rose in Tuesday trading, while Ma and Tsai have now become the company’s largest shareholders, overtaking Japanese investment holding company Softbank.

Alibaba’s co-founders are showing confidence in their company by investing in its shares, but industry analysts don’t expect Ma to take a more active role in the company’s operations, as he isn’t expected to be more engaged with the company’s operations.

PDD’s growth has outpaced Alibaba’s, with Pinduoduo and Temu’s business models appealing to a more cost-conscious consumer. PDD’s revenue for the quarter ending Sept. 30 increased 94% year-on-year, compared to a 9% jump at Alibaba. PDD’s shares have surged 78% over the past six months compared to a 23% decline for Alibaba.

He called on Alibaba to “correct its course” in a message that also acknowledged PDD’s success.

U.S. restrictions on high-end semiconductors is making it difficult for Chinese companies like Alibaba and Tencent to get the advanced chips needed for data centers and AI applications.



Read more: Alibaba’s value rises $13B after Jack Ma’s share purchase