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On August 24, according to the Shanghai Securities Journal, Alibaba announced the completion of its share placement pricing at HKD 80 billion (approximately USD 10.2 billion). The net proceeds from the placement will be used 100% for investing in full-stack AI capabilities and enhancing AI infrastructure. According to sources close to the transaction, the placement received nearly 3 times oversubscription, exceeding HKD 200 billion. Sovereign and long-term funds accounted for over 40% of the final subscription, reflecting strong demand and high order quality. The clear return path from Alibaba's AI investments has garnered trust from global long-term capital in this placement. Major sovereign funds from the Middle East, Europe, and Asia actively participated in this subscription.

On August 24, according to the Shanghai Securities Journal, Alibaba announced the completion of its new share placement pricing at HKD 80 billion (approximately USD 10.2 billion), with the net proceeds to be used 100% for investing in full-stack AI capabilities and strengthening AI infrastructure. According to sources close to the transaction, the placement was nearly 3 times oversubscribed, exceeding HKD 200 billion. Sovereign and long-term funds accounted for over 40% of the final subscriptions, reflecting strong demand and high order quality. The clear return path of Alibaba's AI investments has garnered trust from global long-term capital for this placement. Major sovereign funds from regions such as the Middle East, Europe, and Asia actively participated in the subscription.

On August 24, Alibaba announced on Sunday its plan to place new shares in Hong Kong. The company stated that the total amount for this placement is HKD 80 billion (USD 10.2 billion). This transaction will become the largest primary follow-on offering ever for a company listed in Hong Kong. Following this news, Alibaba's stock opened lower and continued to decline, with a maximum intraday drop of over 10%, narrowing to a 9% decline. The Hang Seng Index was dragged down by this, falling 1.9% during the day, while the Hang Seng Tech Index dropped 3.58%. Additionally, 'big short' Michael Burry updated his views on Alibaba on the X platform. Burry mentioned that he had swapped his Alibaba holdings for JD.com a few months ago. 'Because issuing stock is now Alibaba's new normal. I won't consider it again unless the stock drops by half from here.'