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المشهد العربي
Alibaba targets $10 billion AI funding
Alibaba Group issued new shares valued at $10.2 billion on the Hong Kong Stock Exchange, aiming to fund the expansion of its AI capabilities. The offering received strong demand from investors, including sovereign wealth funds, which led to an increase in the number of shares offered. The company announced that the net proceeds will be allocated to strengthen its infrastructure in artificial intelligence, with the share price set at $14.37, representing a 3.6% discount from the last closing price.
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