Alibaba plans to raise $3.2 billion through a zero-coupon convertible bond to fuel international expansion and bolster its cloud computing business. Nearly 80% will upgrade data centers and technology for cloud solutions, while the rest enhances global e-commerce. This move follows previous bond issuances and aligns with Alibaba’s significant AI investment, aiming to drive cloud revenue growth.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets