Alibaba Secures $10.2 Billion via Hong Kong Share Sale to Accelerate AI Infrastructure Buildout

Alibaba is doubling down on artificial intelligence at a moment when the race to build frontier models and the infrastructure behind them is intensifying across both China and the West. © Reuters

HONG KONG — Alibaba Group disclosed Sunday it will raise 80 billion Hong Kong dollars ($10.2 billion) through a share placement to investors outside the United States, earmarking the entire sum to expand its full-stack artificial intelligence capabilities.

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