AITechNodeabout 2 hours ago
Alibaba raises HK$80 billion for AI infrastructure
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Alibaba priced 710 million new Hong Kong-listed shares at HK$112.70 each, raising HK$80 billion (US$10.21 billion). The transaction closes Aug. 26. All net proceeds will strengthen full-stack AI capabilities and expand related infrastructure, as spending on AI computing and cloud services accelerates.
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