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Alibaba to raise $3.2 billion via convertible bond to fund cloud growth
Yahoo Financeยท 2025-09-11 00:06
By Scott Murdoch and Casey Hall (Reuters) - Chinese e-commerce leader Alibaba said on Thursday it plans to raise $3.2 billion through the sale of a zero-coupon convertible bond to fund international expansion and strengthen cloud computing. The bond will be the largest of its kind this year, showed Dealogic data, eclipsing DoorDash's $2.75 billion deal in May. Alibaba said it would use nearly 80% of the proceeds to expand data centres, upgrade technology and improve services to meet demand for cloud sol ...