Alibaba Plans To Raise $10 Billion To Boost AI Investments
Alibaba Holding plans to raise around US$10 billion, equivalent to HK$80 billion, through a new share offering on the Hong Kong Stock Exchange. This strategic move aims to strengthen its infrastructure and global competitiveness in artificial intelligence (AI).
According to Bloomberg, the company will offer 710 million shares at HK$112.7 each, representing a 3.6 percent discount to last Friday’s closing price. The offering comes as Alibaba raises its quarterly capital expenditure to approximately $10 billion.
The proceeds from the share sale will be invested in integrated AI capabilities, helping the company maintain its leadership position in this highly competitive sector.
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