$JD

Michael Burry sold his stake in Alibaba (BABA), calling its shares overvalued and objecting to its $10.2B share sale for AI funding. He reinvested in JD.com (JD), citing easing competition in China's delivery market. Alibaba's hedge fund holdings decreased slightly, while JD.com's saw a minor increase.

Alibaba, Tencent, and JD.com are collaborating with Rokid to integrate their services into AI glasses, positioning them as a key ecosystem gateway. Rokid, a neutral player, holds 41% of the global waveguide AR glasses market share. The companies aim to leverage AI glasses for payments, office tasks, and e-commerce, with targets of 2 million units sold and $1 billion in revenue by 2028.

Chinese AI stocks rose after OpenAI's GPT-6 Astra launch. MiniMax +6.5%, Baidu +4.6%, Kuaishou +4.2%, JD.com +4.1%, Xiaomi +3.9%, Z.AI +0.1%. Astra is OpenAI's most capable model yet. Z.AI reported 400% revenue growth, MiniMax 283%. Hang Seng Tech Index up 1.5%.

China's e-commerce giants Meituan, Alibaba, and JD.com have shifted focus to instant retail after a subsidy-driven price war. The market is projected to reach $178 billion by year-end. Meituan and Alibaba lead with 45.3% and 45.7% market share, respectively. Companies are now investing in logistics infrastructure to retain users and improve profitability.

Michael Burry, known for his 'Big Short' bet, disclosed August trades including long positions in MercadoLibre (MELI), Zoetis (ZTS), Lululemon (LULU), and Molina Healthcare (MOH), and short positions in Palantir (PLTR), Nvidia (NVDA), and others. Nine of his 17 long holdings rose, with Veeva (VEEV) up 35.8%, while his short bets faced pressure as AI stocks rallied, with Palantir up 51.4%. Burry adjusted his portfolio, raising cash and managing risk.

JD.com reported a 2.9% YOY revenue decline to RMB 346.40 billion in Q2, but net income per ADS rose 20.7% to RMB 5.01. Analysts remain bullish, with a consensus price target of $40.30, suggesting 40% upside. Bernstein and Benchmark reiterated 'Outperform' and 'Buy' ratings, respectively, while Barclays lowered its target to $41.

JD.com reported Q2 2026 revenue of CNY 346.4 billion and net income of CNY 7.13 billion. The company completed a $4 billion share buyback and announced a Hong Kong logistics joint venture. Analysts debate whether logistics investments can offset slower growth and margin pressures.

JD.com announced a RMB 10 billion investment in robotics by 2028, aiming to support 100 brands and deploy robots in homes, businesses, and public services. The company will focus on supply chain, lifecycle services, and technology, leveraging its retail and logistics expertise. JD.com also plans to establish 80 RoboBase facilities and create 100,000 jobs in robotics services.

Michael Burry's Scion Asset Management sold its Alibaba (BABA) stake in Q1 2025, then reinvested in JD.com. Burry later moved entirely into JD.com, citing Alibaba's share issuance. Alibaba raised $10.2B via a Hong Kong share placement, discounting shares by 8.4%. Shares fell 8% post-announcement. Alibaba defends its AI spending, while Burry warns of dilution.

HSK New Development, a joint venture including China Overseas Land (0688), China Merchants Land (0978), China Resources Land, CTG, JD.com, and Sino Land (0083), won a HK$16.8 billion tender for the Hung Shui Kiu/Ha Tsuen Pilot Area in Hong Kong's Northern Metropolis. The project will focus on smart logistics, residential, and commercial facilities, supporting regional development and connectivity.