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Alibaba to raise $10bn via new Hong Kong shares to fund AI investments

AI News August 23, 2026 06:30 PM
Alibaba to raise $10bn via new Hong Kong shares to fund AI investments

HONG KONG -- Alibaba Group announced on Sunday that it is raising 80 billion Hong Kong dollars ($10.2 billion) through a new share placement to investors outside the U.S., with all the proceeds to be invested in the company's full-stack AI capabilities.

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