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Alibaba’s $3.2B Convertible Bond Fuels AI and Cloud Expansion
Alibaba’s $3.2B Convertible Bond Fuels AI and Cloud Expansion
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Alibaba Group Holding Ltd. surged 8% after announcing a $3.2 billion convertible bond offering, with 80% earmarked for data center expansion and 20% for international commerce. The market's bullish response defies conventional wisdom about dilution concerns, reflecting investor enthusiasm for the company's AI-driven growth narrative.
The Chinese tech giant's cloud computing unit grew 26% last quarter, outpacing corporate averages, while international commerce expanded 19%. Recent unveiling of the trillion-parameter Kwen 3-Pro language model further cemented Alibaba's position in the AI arms race.
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