Alibaba raised $10.2 billion for AI infrastructure as its stock fell 8.5%. Chairman Joseph Tsai and CEO Eddie Wu bought shares after the slump. | Business News

The Chinese tech giant announced it will issue HK$80 billion in new shares to fully fund its global AI push.

The Chinese tech giant announced it will issue HK$80 billion in new shares to fully fund its global AI push.

Alibaba aims to raise $10 billion through a share sale to enhance its artificial intelligence capabilities and compete globally.