China's e-commerce and cloud giant Alibaba Group has announced a record-breaking share placement in Hong Kong to aggressively bankroll its artificial intelligence infrastructure. Alibaba has...

SHANGHAI, Aug 24 : The Hong Kong-listed shares of Alibaba slumped on Monday after the Chinese e-commerce and cloud computing company launched a $10.2 billion share placement, as investors worried about payback from its massive AI spending.Alibaba said on Sunday its HK$80 billion ($10.21 billion) share placeme

SHANGHAI, Aug 24 : Hong Kong-listed shares of Alibaba are set to open 8 per cent lower on Monday after the Chinese e-commerce and cloud computing giant launched a $10.2 billion share placement to fund AI development.Alibaba said on Monday said it has priced its HK$80 billion ($10.21 billion) share placement a