Alibaba announced plans to raise HK$80 billion (US$10.2 billion) through a Hong Kong share placement, aiming to accelerate advancements in artificial intelligence development.

Alibaba's AI product revenue is surging with triple-digit growth for 12 straight quarters as the company spends $10B on capex to dominate AI

Aggressive spending strains cash, but Alibaba’s AI cloud growth points to strong long-term returns, analysts say.

Alibaba Group Announced Proposed Placing of New Shares in Hong Kong