Alibaba plunges after announcing $10.2 billion share placement to fund AI push

Source: Biztoc.com· cnbc.com· August 24, 2026
Alibaba plunges after announcing $10.2 billion share placement to fund AI push

Alibaba shares plunged as much as 10% in Hong Kong on Monday after the Chinese tech giant priced an 80 billion Hong Kong dollar ($10.20 billion) placement of newly issued shares to non-U.S. investors. The company said it plans to use all of the net proceeds t…

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