Core Viewpoint - Alibaba Group plans to issue approximately $3.2 billion in zero-coupon convertible senior notes due in 2032, aimed at enhancing cloud infrastructure and expanding international business operations [1] Fund Allocation - The net proceeds from the note issuance will be used for general corporate purposes, with approximately 80% allocated to enhancing cloud infrastructure, including 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]