Alibaba raises $10.2B in Hong Kong's largest follow-on offering, 100% for AI
智东西 · wechat · 2026-08-23
Alibaba announced a $10.2 billion (80 billion HKD) follow-on share offering in Hong Kong, the largest in the exchange's history. The company stated that 100% of the net proceeds will be invested in "full-stack AI capabilities," covering AI chips, infrastructure, and model development.
Recent financials show quarterly capex reached 67.68 billion RMB (up 75% YoY), driven by AI infrastructure. AI cloud and computing service revenue grew 45%, with external commercialization hitting a 22-quarter high. CEO Eddie Wu noted the payback period for AI investments has shortened to 2.5 years.
Related event: Alibaba Plans $10.2 Billion Share Sale to Fund AI Infrastructure(4 posts)→
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