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Alibaba announces $10.2bn placement to fund AI expansion, shares slide

By Michele Maatouk

Date: Monday 24 Aug 2026

(Sharecast News) - Alibaba shares tumbled more than 8% in Hong Kong on Monday after the Chinese tech company raised HK$80bn ($10.2bn) in an equity placement to extend its "global AI leadership".
The company said in a statement that it will place 710m new ordinary shares to investors outside of the...

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