Alibaba is raising $10.2bn and spending all of it on AI

The Next Web The Next Web —

https://media.thenextweb.com/2026/06/alibaba-tencent-lobbyists-drop-pentagon-1260h-rule.avif" width="868" />

Alibaba is placing HK$80bn, about $10.2bn, of new shares in Hong Kong and says all net proceeds will go to AI infrastructure and capabilities.

It comes days after the company reported a 75% fall in quarterly net profit driven by that same spending.

Alibaba is going to the market for money to spend on AI, […]




https://thenextweb.com/news/alibaba-10-2bn-share-placement-ai-infrastructure?utm_source=social&utm_medium=feed&utm_campaign=profeed">This story continues at The Next Web

Read full article at The Next Web →