Alibaba's New-Share Placement Likely to Strengthen AI Business
Dow Jones11:20
0320 GMT - Alibaba's new-share placement is likely to strengthen the company's artificial-intelligence business, according to Nomura analysts in a research note. "The market had widely believed Alibaba would need to raise new capital, after seeing a flurry of fund-raising activities by U.S. hyerscalers year to date," the analysts say. Nomura views the equity placement as manageable for existing shareholders and supportive of Alibaba's longer-term AI competitiveness. The bank keeps its buy rating and target price of $178.00 on its ADRs, which last traded at $118.47.
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