Alibaba Raises $10.2 Billion for AI, Shares Fall 8%

Alibaba priced a HK$80 billion (US$10.2 billion) share placement in Hong Kong on August 24, 2026, directing all proceeds into AI infrastructure. Shares fell 8% on dilution. The raise layers onto a three-year, $53 billion AI-and-cloud spending pledge — a cycle that already cut quarterly profit 75% year-over-year, even as cloud revenue surged 45%.