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Alibaba to raise $10bn via new Hong Kong shares to fund AI investments
Move comes amid intensifying race to build frontier models and computing infrastructure Alibaba is doubling down on artificial intelligence at a moment when the race to build frontier models and the infrastructure behind them is intensifying across both China and the West. © Reuters HONG KONG — Alibaba Group announced on Sunday that it is […]
By deepak · August 23, 2026 · 1 min read
Move comes amid intensifying race to build frontier models and computing infrastructure
Alibaba is doubling down on artificial intelligence at a moment when the race to build frontier models and the infrastructure behind them is intensifying across both China and the West. © Reuters
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.
Source: Read the original article on asia.nikkei.com
