SENSEX
NIFTY
GOLD
USD/INR

Weather

image 33    C

National News

TNW

National / TNW

details

Alibaba is raising $10.2bn and spending all of it on AI

Alibaba is placing HK$80bn, about $10.2bn, of new shares in Hong Kong and says all net proceeds will go to AI infrastructure and capabilities. It comes days after the company reported a 75% fall in quarterly net profit driven by that same spending. Alibaba is going to the market for money to spend on AI, [] This story continues at The Next Web

23 Aug 2026 2:29 pm