Monday, 24 August 2026 · World
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EUROS The World Financial Report
Nº 44 Monday, 24 August 2026 · World Edition
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Alibaba shares plunge 11% after $10.2 billion share placement to fund AI expansion

mint - markets · 1h ago · 🇮🇳 India
Alibaba shares plunge 11% after $10.2 billion share placement to fund AI expansion

Alibaba shares dropped 11% after announcing an HK$80 billion share placement to fund AI expansion. The company will issue 710 million shares below the previous closing price. Proceeds will enhance AI capabilities amid a 75% decline in quarterly net profit.

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