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Chinese technology giant Alibaba has announced plans to raise HK$80 billion ($10.2 billion) through a new share offering in Hong Kong as it accelerates its AI investment.
The Hangzhou-based company said the fundraising would support its global AI ambitions, with the proceeds directed towards expanding its artificial intelligence infrastructure and strengthening its broader AI capabilities.
Alibaba said in a statement that the equity placement was being carried out “to extend the Company’s global AI leadership.” The company added that it intends to use all net proceeds from the share sale to invest in its “full stack AI capabilities,” including expanding and enhancing its AI infrastructure.
The move comes as Alibaba continues to commit significant resources to AI development, with investors closely watching how the company plans to turn those investments into sustainable revenue growth.
The company’s latest financial results showed strong performance, with Alibaba reporting nearly 269 billion yuan ($40 billion) in revenue for its most recent quarter. This represents a nine per cent increase from the same period last year, supported by growing demand for AI-related products and services.
Alibaba has become one of China’s leading players in the artificial intelligence sector, particularly through its open-source Qwen AI models, which have gained traction among developers globally.
The new funding plan reflects the company’s strategy to compete in an increasingly competitive AI market, where major technology firms are investing heavily in computing power, infrastructure and advanced AI models.
As global demand for artificial intelligence continues to expand, Alibaba is positioning AI as a key driver of its future growth, while seeking to strengthen its presence beyond China’s technology market.
