Aug 24 — Alibaba (09988.HK) completed pricing of a HKD80bn (≈USD10.2bn) share placement; net proceeds will be 100% used to invest in full‑stack AI capabilities and strengthen AI infrastructure. The placement was nearly three times subscribed, with or

2026-08-24

Aug 24 — Alibaba (09988.HK) completed pricing of a HKD80bn (≈USD10.2bn) share placement; net proceeds will be 100% used to invest in full‑stack AI capabilities and strengthen AI infrastructure. The placement was nearly three times subscribed, with orders topping HKD200bn; sovereign and long‑term funds comprised over 40% of final allocations. Major sovereign wealth funds from the Middle East, Europe and Asia participated.