Reported 1 day ago
Alibaba aims to raise $3.2 billion through the issuance of a zero-coupon convertible bond to enhance cloud computing and international expansion. This bond, the largest of the year, will allocate nearly 80% of funds for data center expansion and technology upgrades, while the remainder will be invested in improving e-commerce efficiency. The bonds will have a conversion premium and mature in 2032. The company is also focusing on AI investments to bolster cloud revenue growth.
Source: YAHOO