Hong Kong, Aug 23, 2026 (AFP) - Alibaba proposes $10 billion share placement to fund global AI drive

NAMPA / AFP

2026-08-23

Chinese tech giant Alibaba said on Sunday that it plans to issue HK$80 billion ($10.2 billion) in new shares in Hong Kong to fund its global artificial intelligence ambitions. The Hangzhou-based firm has been ploughing tens of billions of dollars into AI, with its shareholders eager to see how it will monetise the huge investments. "The Equity Placement is being undertaken to extend the Company's global AI leadership," Alibaba said in a statement......

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