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

This story is from 2026-08-23. It is preserved in the archive; the latest stories are on the live feed.

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…

Read the full story at The Next Web ↗

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  1. 2026-08-23 08:59 · The Next Web
    Alibaba is raising $10.2bn and spending all of it on AI

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