Alibaba Raising $10.2B for AI Infrastructure Buildout
· Source: mingtiandi.com
In short
Alibaba Group is raising HK$80 billion ($10.2 billion) through a placement of 710 million new shares to fund its artificial intelligence capabilities, including data centre expansion. The company has committed to investing RMB 380 billion in cloud computing and AI infrastructure over three years, with significant capital expenditure growth and rising debt levels. Alibaba Cloud's external revenue accelerated to 45 percent growth, with AI-related product revenue delivering triple-digit growth for the 12th consecutive quarter.
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Tags: AI infrastructure, data centres, cloud computing, investment, Alibaba, funding