AICNBC Techabout 2 hours ago
Alibaba plunges on $10.2B AI share placement
1 min read
Alibaba shares plunged as much as 10% in Hong Kong after pricing an 80 billion Hong Kong dollar ($10.20 billion) placement of 710 million new shares at HK$112.70 each. Proceeds fund AI infrastructure. The move follows a 75% profit drop and 75% capex jump to 67.7 billion yuan.
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