Alibaba Announces Record $10B Hong Kong Share Sale for AI

Alibaba Group announced on Sunday, August 23, 2026, a record-breaking share placement in Hong Kong to aggressively fund its artificial intelligence infrastructure. The Chinese e-commerce and cloud giant plans to raise approximately HK80 billion, or about US$10.2 billion, through a primary follow-on offering, marking the largest such transaction ever by a Hong Kong-listed company.

The offering involves the sale of 710 million ordinary shares at HK112.70 each, representing a 3.6% discount to the stock's most recent closing price. According to company disclosures, 100% of the net proceeds will be allocated to Alibaba's "full stack" AI capabilities. This includes investments in custom semiconductor chips, core cloud infrastructure and data centers, and the development, training, and deployment of proprietary AI models.

The deal ranks as the third-largest primary follow-on offering globally in 2026, trailing only those by Alphabet and Intel. Strong demand from institutional investors, including sovereign wealth funds, led Alibaba to increase the size of the offering after it was oversubscribed. Major financial institutions managing the placement include Morgan Stanley, HSBC, UBS, and...