China's Alibaba announced on Sunday a proposed placement of new shares in Hong Kong.
HONG KONG--(BUSINESS WIRE)--Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), “Alibaba,” “Alibaba Group” or the “Company”) today announced that it proposes to place newly issued ordinary shares of the Company (the “Placement Shares”) to non-U.S. persons outside the United States with an aggregate placing consideration of HK$80 billion, subject to ma...
Alibaba stock tanked after Thursday's earnings despite the company delivering its strongest cloud growth in years, as investors focused on the cost of its artificial-intelligence buildout. The US-listed shares fell about 5% after the results, then recovered much of the decline later.
Alibaba is focusing on agentic commerce innovations as it spends heavily on artificial intelligence. The Chinese tech giant shared quarterly earnings results Thursday (Aug. 20) that showed revenue up 9% for the year, while its AI investments drove a 75% decline in net income.
Alibaba Group (NYSE:BABA) reported a 75% drop in quarterly profit on Thursday, as heavy investment in artificial intelligence infrastructure squeezed margins at China's e-commerce and cloud giant. Net income for the June quarter fell to 10.4 billion yuan ($1.5 billion), missing analyst estimates of 26.98 billion yuan.
Moderna tumbles as investors take some profit following Wednesday's surge, while crypto stocks rally.
Alibaba's earnings slumped in its fiscal first quarter, as the Chinese e-commerce titan continued to invest heavily in artificial intelligence, racing to preserve its lead in the AI sector.