Jack Ma returns as a king! Alibaba's market capitalization experiences a big pump, returning to 3 trillion, and the "MAGA" strategy is fully launched.

"High technology is not just about conquering the stars and the sea, but should also cherish the human world." Jack Ma's return has doubled Alibaba's stock price within a year, and its market capitalization has returned to 3 trillion RMB after 4 years. This founder, who disappeared for nearly five years, now has no official title, yet he is more hands-on than ever, carrying the mission of "Make Alibaba Great Again" and fully promoting the AI strategy and a 50 billion subsidy plan, attempting to help this Chinese tech giant regain its former glory.

"Feng Qingyang" returns, employees are moved to tears

Since that famous speech in 2020, Jack Ma has almost withdrawn from all public appearances. The years he has been absent have been the toughest times for Alibaba. Its market capitalization has dropped from a peak of over $800 billion, and it was once surpassed by the rising star Pinduoduo, with internal employee morale also plummeting.

His absence has become a symbol in itself, representing the end of an era and the company's predicament.

So, when he reappeared in the Alibaba Park, everything changed.

"Today, I am not here for the past 20 years of Ant, but for the future 20 years of Ant."

According to reports from Bloomberg, in December last year, Jack Ma returned to Ant Group to give a speech, and some of the old employees present were so moved that they cried on the spot. In April this year, he appeared at the Alibaba Cloud headquarters, where the walls were covered with messages from employees describing the company's difficulties. Facing the young faces, he repeated his famous lines, igniting everyone's emotions.

Now, he wears the Alibaba badge every day as he moves through the park. This seemingly small detail is interpreted by all Alibaba employees as a strong signal: he is back, returning to the battlefield.

Holding Two Swords: AI and 50 Billion Subsidies

Jack Ma's return is not just a spiritual totem. He comes with clear strategic goals, wielding two sharp swords, aiming straight at Alibaba's future.

The First Sword: All in AI

Informed sources reveal that Jack Ma's interest in AI has reached the level of obsession. He not only receives daily updates on the "Tongyi Qianwen" large model but even sends three messages in a single day to relevant executives to inquire about details. He personally elevates AI to a matter of life and death for Alibaba Cloud and Tongyi Chip Platform.

Under the leadership of Wu Yongming, Alibaba has committed to investing over 380 billion RMB in AI and cloud infrastructure over the next three years. In August of this year, Alibaba Cloud's revenue surged by 26%, marking the fastest growth rate in many years, thanks to the strong push from Jack Ma.

Second Sword: 50 Billion Subsidy for Blood Battle E-commerce

"The days when Alibaba occupied 85% of the market share are gone and will not return." This is the reality that Alibaba's senior management is trying to make Jack Ma accept. In the face of the encirclement by JD.com, Meituan, and Pinduoduo, especially in the fields of instant retail and local living, Alibaba's defenses are under immense pressure.

Jack Ma's answer is simple and straightforward: fight back.

Reports indicate that when Alibaba decided to spend 50 billion yuan (approximately 7 billion USD) on massive subsidies to counter JD.com's surprise attack, Jack Ma was a key behind-the-scenes driver. This war is not only about market share but may also touch on regulatory authorities' red line regarding "malicious subsidies," yet Jack Ma seems determined.

"Moral Authority" and the New Leadership

Today, Alibaba is led by Jack Ma's two most trusted veterans—Cai Chongxin and Wu Yongming—along with the reinstated Jiang Fan, forming a brand new power core.

What role does Jack Ma play in this? Duncan Clark, the author of "Alibaba," describes him as having "moral authority." He is not a day-to-day manager, but a single word or dissatisfaction from him is enough to alter the strategic direction of the entire company. From supporting Daniel Zhang's resignation to speaking up on the intranet to "correct the course," his influence is omnipresent.

Of course, this kind of "Supreme Emperor" existence also brings confusion. Some employees see him as the supreme decision-maker, which complicates the company's reporting structure.

However, one consensus remains: after experiencing a series of strategic swings and organizational adjustments, Jack Ma's return has recalibrated the course of this giant ship. He relies on familiar faces like Joe Tsai, Wu Yongming, and Jiang Fan, attempting to reshape Alibaba's core competitiveness.

The Road to Glory: Challenges and Opportunities of the MAGA Strategy

The founder of Kuaidi Dache, Chen Weixing, commented: "He may be convinced that it's time to step out of seclusion and leave his mark by defeating Meituan. He lives in the illusion of his own martial arts epic."

This may be one interpretation. Jack Ma's career has always been filled with a romantic and heroic spirit reminiscent of martial arts.

When handing the scepter to Zhang Yong, he said: "Retirement does not mean that I have left Alibaba. If Alibaba needs me, I will always be there."

Now, Alibaba needs him. The figure wearing the badge is walking through the Xixi Park, reminding everyone that that era is not over yet.

A battle about "making greatness again" has already begun.