Alibaba Plans $10.2 Billion Share Placement to Fund 'Full Stack' AI Expansion

Alibaba Group Holding announced plans to raise HK$80 billion (US$10.2 billion) through a share placement to non-U.S. investors. The proceeds will be entirely dedicated to expanding its 'full stack' AI capabilities, encompassing chips, infrastructure, and the development and deployment of AI models, signaling a significant investment in its artificial intelligence ambitions.