Alibaba proposes $10 billion share placement to fund global AI drive
The Hangzhou-based firm has been ploughing tens of billions of dollars into AI, with its shareholders eager to see how it will monetise the huge investments. The company intends to use all of the net proceeds to invest in its "full stack AI capabilities, including to expand and enhance its AI infrastructure", it said.
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Business is expanding the infrastructure surface for builders, which can change where inference runs, what gets deployed locally, and how teams package AI workloads.
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Alibaba proposes $10 billion share placement to fund global AI drive Why it matters: Business is expanding the infrastructure surface for builders, which can change where inference runs, what gets deployed locally, and how teams package AI workloads. Source: The Economic Tim...
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