Alibaba Group to raise $10 billion by selling shares for AI expansion
Business·2026-08-23 15:22
By Trista Xinyi Luo and Dave Sebastian Alibaba Group Holding Ltd. is seeking to raise about HK$80 billion ($10.2 billion) from a share sale, its latest move to compete for global leadership in artificial intelligence. The online retail giant-turned-AI player is offering 710 million shares at HK$112.7 each, according to terms of the deal seen by Bloomberg News. That represents a discount of 3.6% to the closing price of Alibaba’s American depositary receipts on Friday. The placement would be Hong K ...