Alibaba has declared its intention to issue new shares valued at HK$80 billion to non-U.S. investors located outside the United States. This move signifies the company's inaugural share issuance since its listing on the Hong Kong Stock Exchange back in 2019. The net proceeds garnered from this share placement will be exclusively allocated towards the construction of comprehensive AI capabilities and the reinforcement of AI infrastructure.

At present, Alibaba's annualized revenue stemming from AI-related products has surpassed RMB 49.5 billion, and projections indicate that it is poised to reach US$10 billion in the upcoming quarter. Looking ahead, Alibaba Cloud has set an ambitious goal of attaining external commercial revenue of US$100 billion by the year 2030, with an anticipated profit margin exceeding 20%.

In recent times, Alibaba has garnered significant favor among global investors, leading to an upward revision of its target price.