Developing8 outlets · over 4 days
Alibaba Raises $10.2B in AI Share Placement
Alibaba priced 710 million new Hong Kong shares at HK$112.70 each, raising HK$80 billion (US$10.21 billion) for AI infrastructure. Shares plunged 10% after the placement, which follows a 75% profit drop and 75% capex jump to 67.7 billion yuan.
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