Alibaba Plans $10.2 billion Share Placement to Fund AI Infrastructure

Alibaba announced on August 23 that it plans to place new shares to non-U. S. persons outside the United States, with a total placement value of HK$80 billion. This marks the company's first share placement since its Hong Kong listing in 2019. The net proceeds from the placement will be 100% invested in building full-stack AI capabilities and strengthening AI infrastructure.

The shares have not been and will not be registered under the U. Securities Act or any state securities laws. They will be offered and sold only to certain non-U. persons in offshore transactions pursuant to Regulation S under the U. Securities Act.

Alibaba holds a net cash position of $46.5 billion on its balance sheet.

The computing power market remains in short supply, and leading global AI technology companies are raising funds through various means to expand AI infrastructure. In June 2026, Alphabet, the parent company of Google, announced a package of stock issuances totaling $84.75 billion to support AI infrastructure construction. In the same month, SpaceX raised $86 billion in its IPO and completed its first investment-grade bond issuance after the IPO, raising an additional $25 billion. In August, Intel's $20 billion common stock offering was subscribed by long-term investors and sovereign wealth funds, while ByteDance was reportedly planning to raise $20 billion offshore.