Alibaba Is Selling $10.2 Billion of Stock to Fund AI. Alphabet and Intel Went First.
Key Points Alibaba priced an 80 billion Hong Kong dollar placement of 710 million new shares, with all net proceeds going into its full-stack AI capabilities, including expanded AI infrastructure. The sale ranks as 2026’s third-largest primary follow-on offering, behind Alphabet’s $84.75 billion equity program …