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Alibaba raises HK$80 billion through a share placement to fund AI infrastructure

This story is from 2026-08-24. It is preserved in the archive; the latest stories are on the live feed.

Alibaba has priced a placement of 710 million new Hong Kong-listed shares at HK$112.70 each, raising HK$80 billion (US$10.21 billion). The transaction is expected to close on Aug. 26. Alibaba said all net proceeds will be used to strengthen its full-stack AI capabilities and expand related infrastr…

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  1. 2026-08-24 06:09 · TechNode
    Alibaba raises HK$80 billion through a share placement to fund AI infrastructure

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