Alibaba Launches Record $10 Billion Share Sale to Enter the AI Race
Alibaba Group Holding (BABA) seeks to raise about $10 billion in a share sale. The Chinese e-commerce and cloud computing giant said it will channel 100% of net proceeds into full-stack AI capabilities. Alibaba Wants to Enter the AI Race Alibaba is offering 710 million ordinary shares at HK$112.70 each, a 3.6% discount to Friday’s The post Alibaba Launches Record $10 Billion Share Sale to Enter the AI Race appeared first on BeInCrypto.
Key Takeaways
- Alibaba Group Holding (BABA) seeks to raise about $10 billion in a share sale.
- The Chinese e-commerce and cloud computing giant said it will channel 100% of net proceeds into full-stack AI capabilities.
- Alibaba Wants to Enter the AI Race Alibaba is offering 710 million ordinary shares at HK$112.70 each, a 3.6% discount to Friday’s The post Alibaba Launches Record $10 Billion Share Sale to Enter the AI Race appeared first on BeInCrypto.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in AI x Crypto
Peter Schiff Says AI Could Turn Into Bitcoin’s Biggest Threat
American economist Peter Schiff is warning that artificial intelligence (AI) could become a threat to the leading crypto asset bitcoin. Schiff further argued that the two technologies compete for money, electricity and infrastructure, while increasingly…
63% of Religious Books on Amazon Are Likely AI-Written, Study Finds
Witchcraft books had the highest rate of likely AI-generated content at 78%, according to an Originality.ai analysis of more than 2,000 titles.
Robot Brains Could Have Their ‘ChatGPT Moment’ by 2027, ACE Robotics Chairman Says
The breakthrough could come from AI models that help robots understand and interact with the physical world, though widespread adoption may still be years away.