Company selling 710 million shares in an equity placement
Alibaba Group has issued an HK$80 billion (US$10.21bn) equity placement.
Set to close on August 26, the equity placement includes 710 million shares, priced at HK$112.70 each (US$14.38).
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The company intends to use the funding to further its "global AI leadership" and will invest in its "full-stack AI capabilities," including expanding its AI infrastructure.
No specific locations have been named.
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