Alibaba Group Holding Ltd. is embarking on a significant fund-raising initiative, aiming to secure approximately HK$80 billion ($10.2 billion) through a share sale to propel its ambitions in the artificial intelligence space. The retail giant, having transformed into a key AI player, plans to offer 710 million shares at HK$112.7 each in an endeavor to position itself as a global leader in AI capabilities. In a move signaling its aggressive pursuit of AI supremacy, Alibaba’s share offering comes at a slight discount of 3.6% to its American depositary receipts’ closing price on Friday. This strategic maneuver marks a staggering endeavor…
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