Alibaba is selling HK$80bn of new shares in Hong Kong, with all net proceeds going to AI infrastructure, days after profit fell 75% on the same spending.

Alibaba's U.S. shares dropped 4% in premarket trading Thursday after the Chinese tech giant posted net income that plummeted 75% in the June quarter.The company has been investing…

Capex surges 75% on year as group braces for agent demand, faces higher chip costs