The Hong Kong placement, priced at a discount, highlights the rising capital demands of the global AI race as Alibaba’s spending pressures profit and cash flow

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.