Alibaba: $10.2 billion capital increase to fund AI strategy

(Il Sole 24 Ore Radiocor) - Chinese technology giant Alibaba has announced plans to issue new shares in Hong Kong worth 80 billion Hong Kong dollars (10.2 billion US dollars) to fund its global ambitions in the field of artificial intelligence. Alibaba has already invested tens of billions of dollars in AI, and its shareholders are eagerly awaiting to see how these substantial investments will translate into financial returns. “The capital raising is being carried out to strengthen the company’s global leadership in the field of AI,” Alibaba stated in a press release.

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