According to CoinMeta, Alibaba's stock price fell by 10% in the Hong Kong market on Monday due to the company's announcement of a share placement worth approximately HK$80 billion (about $10.2 billion) to accelerate its investment in artificial intelligence. This placement will issue 710 million new shares at a price of HK$112.70 per share, which is about 8.4% below the closing price of HK$123 last Friday. Despite concerns about dilution, investor demand remained strong, with Reuters reporting that the total order amount for this placement was about $28 billion, attracting interest from major sovereign investors. Alibaba's capital expenditure in the June quarter was nearly $10 billion, a year-on-year increase of 75%. Although the quarterly net profit decreased by 75% year-on-year, revenue from cloud computing and computing services increased by 45% year-on-year, reaching about $7.1 billion, marking the fastest growth in 22 quarters.