Alibaba Raises $10.2 Billion in Record Hong Kong Share Sale

Alibaba has successfully raised $10.2 billion through a share placement in Hong Kong to fund its aggressive expansion into artificial intelligence.

The move follows investor Michael Burry's decision to divest his entire stake in the company, signaling a shift in institutional sentiment.

The capital injection is intended to bolster Alibaba's AI video model development and maintain its competitive edge in the global tech market.