Alibaba Group Holding Limited (NYSE: BABA, HKEX: 9988) announced the completion of an HK$80 billion equity placement, issuing 710 million new ordinary shares at HK$112.70 per share to non-U.S. investors outside the United States.

The shares were offered exclusively to non-U.S. persons in offshore transactions under Regulation S of the U.S. Securities Act of 1933 and have not been registered under U.S. securities laws.

According to the company, approximately 60% of net proceeds, or HK$47,871 million, will be directed toward expanding global computing infrastructure. The remaining 40%, or HK$31,914 million, is designated for building AI data centers and upgrading cloud infrastructure, including storage, databases, and high-performance networking.