Core Viewpoint - Alibaba Group plans to issue approximately $3.2 billion of zero-coupon convertible senior notes maturing in 2032 to enhance cloud infrastructure and expand international business operations [1] Fund Allocation - About 80% of the net proceeds from the fundraising will be used to enhance cloud infrastructure, including expanding data centers, upgrading technology, and optimizing services to meet growth demands [1] - The remaining 20% will be allocated to expanding international business operations, focusing on operational investments to improve market position and efficiency [1] Stock Price Strategy - Alibaba has entered into capped call transactions aimed at increasing the effective conversion price, with the upper limit expected to be 60% higher than the closing price of Hong Kong stocks on Thursday [1] - Based on the closing price of $143.93 on Wednesday, the stock price could rise to $230, which would trigger new share issuance, effectively reducing potential dilution and demonstrating Alibaba's confidence in future development [1] Financial Position - As of the end of June, Alibaba's cash reserves stood at $81.8 billion, indicating a strong financial position [1] - The issuance of notes and capped call transactions is intended to lower the company's overall cost of capital [1] Market Context - Recent favorable interest rates and overall capital market conditions have attracted many companies to issue bonds, with Baidu issuing $2 billion in exchangeable bonds this year and Tencent reportedly planning to issue offshore RMB bonds [1]

Core Viewpoint - Alibaba plans to issue approximately $3.2 billion in zero-coupon convertible senior notes due in 2032, with the net proceeds aimed at enhancing cloud infrastructure and expanding international business operations [2] Funding Allocation - About 80% of the proceeds will be allocated to enhancing cloud infrastructure, which includes expanding data centers, upgrading technology, and optimizing services to meet growing demand [2] - The remaining 20% will be used to expand international business operations, focusing on operational investments to improve market position and efficiency [2]

Core Viewpoint - Alibaba announced the issuance of approximately $3.2 billion zero-coupon convertible senior notes due in 2032, with the net proceeds intended for general corporate purposes, focusing on enhancing cloud infrastructure and expanding international business operations [1] Group 1: Fund Allocation - Approximately 80% of the proceeds will be allocated to enhancing cloud infrastructure, which includes expanding data centers, upgrading technology, and optimizing services to meet growing demand [1] - The remaining 20% will be used to expand international business operations, focusing on operational investments to improve market position and efficiency [1]