Alibaba Turns Hong Kong Equity Into an AI-Compute War Chest

Alibaba announced the pricing of a HK$80 billion placement of 710 million new ordinary shares at HK$112.70 each, with closing expected on August 26, 2026, subject to customary conditions. The company said 100% of net proceeds will go toward full-stack AI capabilities, including expansion and enhancement of AI infrastructure. Reuters, Bloomberg and South China Morning Post reported the deal as roughly US$10.2 billion and tied it to Alibaba’s broader push across chips, cloud infrastructure, AI models and applications.