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)

Reuters:
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  —  China's Alibaba (9988.HK) on Sunday launched a HK$80-billion ($10.2 billion) share placement to fund artificial intelligence-related development.