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Alibaba is raising $10.2bn and spending all of it on AI

Alibaba is placing HK$80bn, about $10.2bn, of new shares in Hong Kong and says all net proceeds will go to AI infrastructure and capabilities. It comes days after the company reported a 75% fall in quarterly net profit driven by that same spending. Alibaba is going to the market for money to spend on AI, […] This story continues at The Next Web

Published Aug 23, 2026 · 2:45 PMOriginal source: The Next Web9 reads
Alibaba is raising $10.2bn and spending all of it on AI
Alibaba is placing HK$80bn, about $10.2bn, of new shares in Hong Kong and says all net proceeds will go to AI infrastructure and capabilities. It comes days after the company reported a 75% fall in quarterly net profit driven by that same spending. Alibaba is going to the market for money to spend on AI, […] This story continues at The Next Web
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