Alibaba proposes $10.2B AI shares
Alibaba Groupannounced its plan to issue new shares valued at $10.2 billion in Hong Kong to fund its artificial intelligence projects. This move is part of the company's efforts to strengthen its position in this sector, with the proceeds to be used for expanding infrastructure and developing comprehensive AI capabilities. In the last quarter, Alibaba achieved revenues of $40 billion, representing a 9% growth, supported by increased demand for its AI-related products.
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