Alibaba Olympic gold

Alibaba’s deal to sponsor the Olympics through 2028 is worth $800 million, sources said Thursday. The agreement, the biggest in the Olympic movement’ s history, would help the Chinese ecommerce giant gain global exposure, putting it on the same rung as the likes of Coca-Cola and Samsung.

Alibaba shares closed up by 17 cents and then gained another 8 cents in extended trading, to $96.25.