-0.73% to $118.47 from $119.34
What moved BABA
- Alibaba priced the placement at HK$112.70 per share, about 8.4% below Friday’s close.
- The offering is the largest follow-on share placement in history by a Hong Kong-listed company, and the third-largest globally this year behind deals from Alphabet and Intel.
- Alibaba said it plans to use all net proceeds to expand and enhance its full-stack AI infrastructure capabilities.
- The placement came days after Alibaba reported a 75% year-over-year drop in quarterly profit tied to heavy AI spending.
- Some of the pressure also reflected investor concern over holders converting American depositary receipts into the newly discounted Hong Kong shares.
Sources: CNBC · Seeking Alpha
+0.73% to $124.71 from $123.81
What moved BABA
- Alibaba shares rose after Reuters reported the company is selling its Lingxi Games unit to private equity firm Trustar Capital in a deal valued at more than $2 billion.
- The final price is nearly double the roughly $1.03 billion to $1.33 billion range floated when Alibaba first considered a sale in June.
- Alibaba is exiting gaming, viewed as a non-core business, to redeploy capital toward artificial intelligence and cloud computing.
Sources: Reuters via Yahoo Finance · Cryptonomist · TechTimes
+4.13% to $127.30 from $122.25
What moved BABA
- Shares rose after Alibaba introduced Qwen3.8-Max, a new flagship AI model the company said performed competitively against other leading global models.
- The new model reportedly uses fewer parameters and less compute than rivals, which analysts said makes it appealing to cost-sensitive enterprise customers.
- Separately, EU regulators fined Alibaba’s AliExpress unit roughly 550 million euros under the Digital Services Act over controls on illegal and counterfeit goods.
Sources: TipRanks · ts2.tech · StocksToTrade