Alibaba Plans to Place HKD 80 Billion in New Shares, All for AI Investment

Alibaba (09988.HK) announced plans to place new shares in Hong Kong, with a total placement amount of HKD 80 billion (USD 10.2 billion). This placement will become the largest primary follow-on offering ever by a Hong Kong-listed company and the largest Regulation S stock issuance on record. Additionally, it is the third-largest primary follow-on stock issuance globally this year, following Alphabet and Intel. Alibaba plans to use 100% of the net proceeds from this placement to invest in its full-stack artificial intelligence capabilities, including expanding and upgrading its AI infrastructure.

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