Alibaba Proposes HK$80 Billion Share Placement Directed Entirely Toward AI Infrastructure
Alibaba announced a proposed placement of 710 million ordinary shares at HK$112.70 per share, a 3.6% discount to its most recent close, with all net proceeds earmarked for AI infrastructure expansion. The offering represents approximately 3.57% of the enlarged share count and follows a quarter in which AI Cloud revenue rose 45% year over year and capital expenditures grew 75%. Claims that the deal sets a Hong Kong primary follow-on record were not independently verified in primary filings, and key details including placement agents, a closing date, and a spending breakdown by category remain unconfirmed.