Reported about 6 hours ago
Alibaba Group Holding Ltd. is leading a significant fundraising initiative, aiming to raise $3.17 billion through a zero-coupon convertible notes offering, driven by escalating capital needs in the competitive artificial intelligence sector. This move reflects the growing appetite for investment among Chinese tech companies, as they scale their operations and invest heavily in AI infrastructure. Despite challenges in the market, Alibaba seeks to position itself as a leader while navigating fierce competition from companies like Meituan and JD.com.
Source: YAHOO