Alibaba Raises $10.2 Billion in Hong Kong to Accelerate AI Investment
On August 23, 2026, Alibaba launched an HK$80B share placement in Hong Kong to fund AI development, including chips and computing infrastructure.
CHINA,ECONOMY
Global N Press
8/23/20261 min read
On August 23, 2026, Chinese technology giant Alibaba launched an HK$80 billion ($10.2 billion) share placement in Hong Kong to fund artificial intelligence development, including chips, computing infrastructure and AI model development and deployment. The offering involved 710 million new shares and became the largest primary follow-on share sale by a Hong Kong-listed company, as well as the world’s third-largest primary follow-on offering of 2026 after those by Alphabet and Intel. The fundraising comes as Alibaba accelerates spending on AI infrastructure amid intensifying global competition in cloud computing and generative AI.
The company has outlined a three-year capital investment plan of about 380 billion yuan ($56.4 billion) for 2026-2029 and said the expected payback period for AI-related investments is improving as demand rises. However, Alibaba’s net profit fell 75% year on year in the April-June quarter as AI-related capital expenditure increased sharply. The financing underscores the scale of investment Chinese technology companies are directing toward AI infrastructure and highlights the growing competition between Chinese and U.S. firms for computing capacity, cloud services and advanced AI capabilities.
