Alibaba proposes $10 billion share placement to fund global AI drive

Economic Times TechAugust 23, 2026en

The Hangzhou-based firm has been ploughing tens of billions of dollars into AI, with its shareholders eager to see how it will monetise the huge investments. The company intends to use all of the net proceeds to invest in its "full stack AI capabilities, including to expand and enhance its AI infrastructure", it said.

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