Alibaba Seeks $10B from Hong Kong Shares to Fund AI Plans
Alibaba is turning to Hong Kong’s capital markets to raise funds for its expanding AI ambitions, launching a $10.2 billion share sale. The fundraising would represent the biggest primary follow-on offering ever completed by a company listed in Hong Kong. Globally, it would also be the third-largest primary follow-on share sale of 2026, behind transactions conducted by Intel and Alphabet. The Chinese tech group said the entire amount raised will be directed toward strengthening its AI operations. Its plans cover the broader AI technology stack, including computing hardware, supporting infrastructure, as well as the creation and rollout of AI models.…