[Alibaba Placement Nearly 3x Oversubscribed, Sovereign and Long-Term Funds Account for Over 40% of Final Subscription] BlockBeats News, August 24, according to the Shanghai Securities News, Alibaba announced the pricing of its HK$80 billion (approximately $10.2 billion) new share placement, with 100% of the net proceeds to be used for investing in full-stack AI capabilities and strengthening AI infrastructure development. According to sources close to the transaction, the placement was nearly 3x oversubscribed, exceeding HK$200 billion. Sovereign and long-term funds accounted for over 40% of the final subscription, receiving an enthusiastic response with high-quality orders. Alibaba's clear return path for AI investments has earned the trust of global long-term capital in this placement. Major sovereign funds from regions such as the Middle East, Europe, and Asia actively participated in the subscription. [Original Link]