Alibaba Group Holding said it completed an HK$80 billion share placement, issuing 710 million newly issued ordinary shares at HK$112.70 apiece to non-U.S. investors outside the United States.
The proceeds will be allocated toward expanding global computing infrastructure and upgrading hyperscale AI data centers and cloud systems. Approximately 60% of the net proceeds, or HK$47.9 billion, will fund global computing infrastructure, while the remaining 40%, or HK$31.9 billion, will support storage, databases, and high-performance networking for AI workloads.
The placement was conducted under Regulation S of the U.S. Securities Act of 1933, meaning the shares were not registered under U.S. securities laws. Alibaba, which operates in AI, cloud computing, and commerce, utilizes its Qwen family of large language and multimodal models to deliver AI services and infrastructure.
