Alibaba Group Holding said it completed an HK$80 billion share placement to accelerate its artificial intelligence and cloud computing initiatives. The placement involved 710 million newly issued ordinary shares priced at HK$112.70 apiece, according to a filing on Wednesday.
The offering was structured under Regulation S of the U.S. Securities Act of 1933, restricting participation to non-U.S. persons outside the United States. Proceeds will be directed toward two primary areas: approximately 60% will fund global computing infrastructure, while the remaining 40% will finance hyperscale AI data centers and cloud infrastructure upgrades, including storage, databases, and high-performance networking.
The company emphasized its focus on AI, cloud computing, and commerce, leveraging its Qwen family of large language and multimodal models to support its ecosystem. The placement follows Alibaba’s push to expand its AI capabilities amid intensifying competition in the sector.
Alibaba’s shares trade on the New York Stock Exchange under the ticker BABA and on the Hong Kong Stock Exchange under 9988.
