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Alibaba launches $10.2B share placement to fund AI development

#alibaba#ai-funding#share-placement#china

Alibaba launched a HK$80 billion ($10.2 billion) share placement on Sunday to fund artificial intelligence-related development. The company plans to offer 710 million shares at a 3.6% discount to Friday's close, according to sources.

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  1. Techmeme
    Alibaba plans to raise ~$10B in a follow-on share offering to fund AI investments; sources: it plans to offer 710M shares at a 3.6% discount to Friday's close (Reuters)

    Reuters : Alibaba plans to raise ~$10B in a follow-on share offering to fund AI investments; sources: it plans to offer 710M shares at a 3.6% discount to Friday's close — China's Alibaba (9988.HK) on Sunday launched a HK$80-billion ($10.2 billion) share placement to fund artificial intelligence-related development.