37d ago

Alibaba to issue US$10 billion in new shares for huge AI push amid strong investor demand

Alibaba Group Holding will issue HK$80 billion (US$10.2 billion) worth of new shares and use all of the proceeds to invest in AI, the Chinese tech giant said on Sunday. The move aims to “extend the company’s global AI leadership”, it said, adding that Alibaba would use the funds raised to “invest in its full-stack AI capabilities”, including expanding and enhancing its AI infrastructure. The decis

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Alibaba to issue US$10 billion in new shares for huge AI push amid strong investor demand

rss:scmpinternational37d ago kagi ↗

Alibaba Group Holding will issue HK$80 billion (US$10.2 billion) worth of new shares and use all of the proceeds to invest in AI, the Chinese tech giant said on Sunday. The move aims to “extend the company’s global AI leadership”, it said, adding that Alibaba would use the funds raised to “invest in its full-stack AI capabilities”, including expanding and enhancing its AI infrastructure. The decis