EventBusinessAugust 24, 2026

Alibaba raises $10.2B share placement to fund AI push

Read original source →technode.com

Alibaba priced a placement of 710 million new Hong Kong-listed shares at HK$112.70 each, raising HK$80 billion (US$10.21 billion) to fund its full-stack AI capabilities and infrastructure. Shares plunged 10% on the announcement. The company spent $9.5B on AI compute in Q2 2026 and projects $25B more this year.

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3 days · 6 reports · 1 community post · from Aug 20

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