Alibaba proposes Hong Kong share placement worth $10 billion
Alibaba said it will use 100% of the proceeds to expand its full-stack AI capabilities and infrastructure.
- Group Holding Limited announced an Equity Placement of newly issued Placement Shares aiming to raise HK$80 billion in aggregate placing consideration, subject to market and other conditions.
- Alibaba intends to use 100% of the net proceeds from this offering to invest in full-stack AI capabilities, including the Qwen family of large language models and expanded infrastructure.
- Relying on Regulation under the Securities Act, the Placement Shares are being offered exclusively to non-U.S. persons in offshore transactions and remain unregistered within the United States.
- Alibaba noted this proposal contains forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act, cautioning there is no assurance the Equity Placement will be completed.
- Further information regarding risks is included in filings with the Exchange Commission and announcements on the website of The Stock Exchange, as factors could cause results to differ materially.
21 Articles
21 Articles
Alibaba announced this Sunday that it plans to issue 80 billion dollars from Hong Kong, about US$ 10.2 billion (approximately R$ 52.4 billion in the current quote), in new actions to finance its global expansion in artificial intelligence. The company reported that it intends to use all the net resources of the operation to expand its capabilities in the area, especially the AI infrastructure. "The capital increase is carried out with the aim of…
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
The Chinese tech group Alibaba wants to invest in artificial intelligence. To finance this, the company wants to issue new shares – in billions.
Alibaba plans $13 billion Hong Kong share placement to fund AI spending
China's Alibaba said on Sunday (Aug 23) it plans to sell HK$80 billion ($13 billion) in a share placement to fund artificial intelligence-related development.A deal by the Chinese e-commerce and cloud computing giant would mark the largest-ever primary follow-on offering by a Hong Kong-listed company.It would rank as the world's third-largest primary follow-on share sale this year after offerings from Alphabet and Intel.The company said it inten…
China's tech giant wants to issue new shares in Hong Kong to finance its global ambitions and strengthen its infrastructure in the AI sector The Chinese tech giant
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