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Alibaba allocates billions to boost AI leadership
Alibaba Group plans to raise approximately $10 billion through a new share offering on the Hong Kong Stock Exchange, aiming to strengthen its infrastructure and expand its capabilities in the highly competitive global artificial intelligence sector. The proceeds from this offering, which involves about 710 million shares at a discounted price, will be allocated to support the development of intelligent models and investments in data centers and cloud computing. The company affirms that this move is part of its efforts to secure a leading position in the global technology market, with revenues growing by 9% driven by demand for AI solutions, while also focusing on enhancing its popular open models among developers worldwide.
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