Cloud computing division
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Main beneficiary of the AI infrastructure spending plan
Alibaba's Hong Kong shares fell as much as 10% Monday after the company priced an HK$80 billion (US$10.2 billion) placement of new shares to bankroll its artificial intelligence buildout. The company sold 710 million shares at HK$112.70 each, an 8.4% discount to Friday's close.
Updated Yesterday
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