The move comes three weeks after the company released the well-received Qwen 3.8 Max AI model.
August 24, 2026
Chinese tech giant Alibaba has accelerated its push into AI, raising about $10.2 billion to spend on AI with newly issued shares.
The move was confirmed in a statement issued by the company on Sunday, which said it wanted to extend its “global AI leadership.”
“Alibaba intends to use 100% of the net proceeds from the equity placement to invest in its full-stack AI capabilities, including to expand and enhance its AI infrastructure,” according to the statement.
