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Alibaba stock slumps in Hong Kong after $10.2 billion share placement to fund AI
SHANGHAI, Aug 24 : The Hong Kong-listed shares of Alibaba slumped on Monday after the Chinese e-commerce and cloud computing company launched a $10.2 billion share placement, as investors worried about payback from its massive AI spending.Alibaba said on Sunday its HK$80 billion ($10.21 billion) share placeme
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scmp.com
Breaking | Alibaba to issue HK$80 billion in new shares for global AI push
The Chinese tech giant announced it will issue HK$80 billion in new shares to fully fund its global AI push.
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Alibaba to issue US$10 billion in new shares for global AI push
The Chinese tech giant is expanding beyond retail into chips, cloud and large language models as surging spending weighs on quarterly profits.
