Alibaba finalized the pricing of an 80 billion HKD share issuance on August 24, with net proceeds set to fund full-stack AI development and infrastructure. The offering saw nearly triple oversubscription, receiving over 200 billion HKD in applications, and more than 40% of subscribers were sovereign and long-term funds from regions including the Middle East, Europe, and Asia. Management invested 120 million HKD personally. Post-issuance, the company’s chairman and CEO increased their combined share holdings by 1.07 million shares worth about 120 million HKD, showing confidence in the AI strategy. Alibaba’s AI-related product revenue now exceeds 49.5 billion RMB annually and is expected to reach 10 billion USD by the next quarter. The firm projects Alibaba Cloud’s external revenue will hit 100 billion USD by 2030 with a 20% profit margin, and AI capital expenditures are expected to be recouped in 2 to 3 years. Recent share repurchases and cancellations have raised shareholder returns, as the company expands its full-stack AI layout to cover models, applications, and computing infrastructure.