BlockBeats News, August 26th, Alibaba Group announced the completion of an HK$80 billion new share placement, issuing 710 million new ordinary shares to non-U.S. persons outside the United States at a subscription price of HK$112.70 per share.

Alibaba plans to use the net proceeds from the placement to strengthen its global AI presence. Approximately 60%, or about HK$47.871 billion, will be allocated to expanding its global computing infrastructure to meet the growing customer demand. The remaining approximately 40%, or about HK$31.914 billion, will be used to accelerate the construction of large-scale AI data centers.

The funds will also be used to upgrade storage, databases, and high-performance networks, among other traditional cloud infrastructure, to support Alibaba's comprehensive shift to the Agentic Cloud architecture. The shares offered in this placement have not been registered under the U.S. Securities Act of 1933 and are issued and sold outside the United States to certain non-U.S. persons in reliance on Regulation S.