A Boost for Alibaba: The Company's Aggressive AI Ambitions Drive Shares Up
Reading Time: 2 minutes
The shares of Alibaba in Hong Kong rose by 5.9% on Friday to HKD 151.80, marking their highest level since November 2021. This price increase is a direct response to the recent strategic moves made by the Chinese tech giant in the field of AI. Investors are positively evaluating the company's efforts to secure and expand its leading position. Financing and investments in cloud infrastructure To further advance its AI development, Alibaba announced its intention to raise $3.2 billion by issuing zero-coupon convertible bonds. Approximately 80%...
Read this article now with a free account.
Your benefits:
- Every month, you can read 5 articles from the premium section for free.
- Monthly 2 trial issues of the Trader newspaper for free.
- Create a personal watchlist with an overview of news about your stock.
