Brief24Alibaba to issue US$10 billion in new shares for huge AI push amid strong investor demand
South China Morning Post·+1
scmp.comAlibaba 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 decision underscores Alibaba’s efforts over the past few years to transform from an e-commerce giant into...
