Alibaba plans to raise ~$10B in a follow-on share offering to fund AI investments; sources: it plans to offer 710M shares at a 3.6% discount to Friday's close (Reuters)
Alibaba is tapping Hong Kong investors for an HK$80 billion AI war chest.
The company launched a follow-on placement worth about $10.2 billion, according to Reuters. Sources in Techmeme’s summary say Alibaba planned to offer 710 million shares at a 3.6% discount to Friday’s close. The proceeds are earmarked for AI-related development. Techmeme's note
The company launched a follow-on placement worth about $10.2 billion, according to Reuters. Sources in Techmeme’s summary say Alibaba planned to offer 710 million shares at a 3.6% discount to Friday’s close. The proceeds are earmarked for AI-related development. Techmeme's note
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