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Benzinga
Benzinga
Business
Ananya Gairola

Alibaba Plans To Raise $3.2 Billion Through Convertible Bond As It Doubles Down On Cloud Expansion And $53 Billion AI Investment Drive

BABA Alibaba Alibaba Group Holding Ltd
Hangzhou,,China,-,Sep,14,,2023:,Alibaba,Group's,Global,Headquarters,

On Thursday, Alibaba Group Holding Ltd. (NYSE:BABA) said that it will raise $3.2 billion through a zero-coupon convertible bond.

Alibaba shares slipped 2.16% in Wednesday's regular session and declined a further 0.40% in after-hours trading, according to Benzinga Pro data.

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