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Alibaba Raises $3.2B for Cloud and AI Expansion via Convertible Notes
Alibaba Raises $3.2B for Cloud and AI Expansion via Convertible Notes
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BTCCSquare news:
Alibaba Group is raising $3.2 billion through zero-coupon convertible notes maturing in 2032, with 80% of proceeds earmarked for cloud infrastructure expansion. The remaining 20% will enhance international ecommerce operations, aligning with the company’s $53 billion AI and cloud investment strategy.
China’s AI cloud market leader faces stiff competition from global giants like AWS and Microsoft. The capital injection will fund data centers, hardware upgrades, and cloud-native technologies, reinforcing Alibaba’s domestic dominance while accelerating overseas growth.
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