Alibaba Launches $10 Billion Share Sale to Fund AI Race
Alibaba Launches $10 Billion Share Sale to Fund AI Race
Alibaba Group Holding (BABA) is undertaking a share sale aiming to raise approximately $10 billion. The Chinese e-commerce and cloud computing giant has announced that the entirety of the net proceeds will be dedicated to advancing its full-stack AI capabilities. The company is offering 710 million ordinary shares at HK$112.70 each, which represents a 3.6% discount from Friday's closing price.
Alibaba Group Holding (BABA) seeks to raise about $10 billion in a share sale. The Chinese e-commerce and cloud computing giant said it will channel 100% of net proceeds into full-stack AI capabilities. Alibaba Wants to Enter the AI Race Alibaba is offering 710 million ordinary shares at HK$112.70 each, a 3.6% discount to Friday’s
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