Sunday, August 23, 2026

Alibaba proposes $10 billion share placement to fund global AI drive

The Hangzhou-based firm has been ploughing tens of billions of dollars into AI, with its shareholders eager to see how it will monetise the huge investments. The company intends to use all of the net proceeds to invest in its "full stack AI capabilities, including to expand and enhance its AI infrastructure", it said.

from Tech-Economic Times https://ift.tt/ZdRvmWk

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South Korea's Lee vows to make bold AI investment in record budget push

His administration proposed in September increasing government spending by a record 12.8% next year to 820.9 trillion won ($615.62 billion) ...