[Alibaba Plans to Offer HK$80 Billion in New Shares, All Funds to Be Invested in AI] BlockBeats News, August 23 — Alibaba announced on Sunday its intention to offer new shares in Hong Kong. The company stated that the total amount of the offering would be HK$80 billion (US$10.2 billion). Alibaba noted that this transaction would become the largest primary follow-on offering ever by a Hong Kong-listed company, the largest Regulation S stock offering on record (targeting securities issuance and sales outside the United States), and the third-largest primary follow-on stock offering globally this year, following Alphabet and Intel. The company stated that 100% of the net proceeds from this offering would be allocated to investing in its full-stack artificial intelligence capabilities, including expanding and upgrading AI infrastructure.