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Alibaba to Raise $1.53 Billion via Exchangeable Bonds for Cloud and Global Commerce Expansion

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Alibaba Group has announced plans to raise approximately HK$12 billion ($1.53 billion) through the issuance of exchangeable bonds, as part of its strategic push into cloud computing and international commerce.

The bonds, which can later be exchanged for shares in Alibaba Health Technology, will carry zero interest, making them an attractive vehicle for investors seeking exposure to Alibaba’s healthcare arm while supporting the group’s broader growth strategy. Alibaba currently owns a 64% stake in Alibaba Health.

This financing initiative follows the company’s $5 billion dual-currency bond sale in November 2024, the largest of its kind in the Asia-Pacific region that year. It also signals growing momentum among Chinese tech companies using exchangeable debt to unlock capital—similar to Baidu’s $2 billion note offering tied to shares of Trip.com earlier in 2025.

The proceeds from Alibaba’s new bond sale are earmarked for:

  • Cloud infrastructure investment, including AI model development centered on Alibaba’s Qwen AI,

  • Expansion of global commerce operations, with infrastructure rollouts already underway in Thailand, Mexico, and South Korea.

The offering comes amid improving sentiment in the Asian credit markets, buoyed by recent fiscal and monetary stimulus from Beijing. Analysts say the favorable debt environment is encouraging large corporates like Alibaba and Miniso to return to capital markets with convertible or exchangeable instruments.

Alibaba clarified that Alibaba Health will remain a core, consolidated subsidiary, both during and after the bond exchange process. This move ensures continuity of operations while unlocking capital for strategic reinvestment.

Apple Supplier Jabil Lifts Annual Forecast Amid AI-Driven Data Center Boom

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Jabil Inc., a major electronics components manufacturer and key supplier to Apple, has raised its full-year profit and revenue forecasts, citing soaring demand for data center infrastructure driven by the rapid adoption of artificial intelligence technologies.

The company’s shares rose approximately 5% in premarket trading on Tuesday after it surpassed Wall Street expectations for its fiscal third quarter.

Highlights from the Report:

  • Fiscal 2025 revenue forecast raised to $29 billion from $27.9 billion.

  • Adjusted earnings per share (EPS) outlook increased to $9.33, up from $8.95.

  • Q3 revenue rose 15.7% year-over-year to $7.83 billion, beating analyst expectations of $7.06 billion (LSEG data).

  • Adjusted Q3 EPS was $2.55, above the expected $2.31.

Strategic Investment:

Jabil also announced a $500 million investment in the United States over the coming years to expand support for cloud and AI data center infrastructure customers, underscoring the company’s strategic pivot toward high-growth digital infrastructure markets.

CEO Mike Dastoor emphasized the momentum:

“Our intelligent infrastructure segment remains a critical growth engine, benefiting from accelerating AI-driven demand.”

This performance positions Jabil as a key player in the supply chain supporting the global AI boom, and its forward-looking strategy appears aimed at securing long-term growth through investments in infrastructure and technology innovation.