Alibaba proposes HK$80B equity placement for AI expansion
Alibaba proposes issuing newly issued ordinary shares to non-U.S. investors for aggregate consideration of HK$80B, with net proceeds intended for its AI infrastructure expansion.
BABA Alibaba — Proposes HK$80B Equity Placement to Fund AI Expansion ⠀ • Alibaba proposes placing newly issued ordinary shares to non-U.S. investors for aggregate consideration of HK$80B, subject to market and other conditions. • 100% of the net proceeds are intended to fund Alibaba's full-stack AI capabilities, including the expansion and enhancement of AI infrastructure. • The shares will be offered only to certain non-U.S. persons in offshore transactions under Regulation S; Alibaba said there is no assurance the placement will be completed.