Alibaba plans to raise ~$10B in a follow-on share offering to fund AI investments; sources: it plans to offer 710M shares at a 3.6% discount to Friday's close (Reuters)

Alibaba launched an HK$80 billion (approximately $10.2 billion) follow-on share placement, offering 710 million shares at a 3.6% discount to the previous Friday’s closing price. The proceeds are earmarked for expanding the company’s artificial-intelligence initiatives and related development projects.