Alibaba Group Holding said on Sunday it will issue HK$80 billion (approximately $10.2 billion) in new shares and direct all proceeds toward artificial intelligence investment.
The company stated the placement aims to “extend the company’s global AI leadership” and fund its “full-stack AI capabilities,” including the expansion and enhancement of its AI infrastructure.
The share sale ranks among the largest recent equity raises by a Chinese technology firm and points to strong investor appetite for the company’s AI strategy. Proceeds will be committed entirely to the buildout rather than shared across other business units.
Alibaba has spent several years reshaping itself from an e-commerce operator into a company centered on cloud computing and AI. That shift has drawn renewed attention from investors tracking Chinese technology stocks, a group that gained momentum after breakthroughs from domestic AI developers reset market sentiment earlier.
The company has also backed a wave of Chinese AI startups, taking positions in firms pursuing public listings and large model development. Its infrastructure spending places it among the leading buyers of computing capacity in the region.
The Hong Kong placement channels fresh capital directly into data centers, chips and the systems required to train and run large AI models. Demand for such infrastructure has climbed sharply as Chinese technology companies compete to match global rivals.
Alibaba framed the raise as part of a longer campaign to hold a front position in AI development worldwide. The figure represents one of the sizable single commitments the company has disclosed for the effort.
The new shares will be issued in Hong Kong, where Alibaba maintains a primary listing. Details on pricing and the completion timeline are set to follow the announcement.