Alibaba Stock Holds $115 After $10.2B AI Raise: Can BABA Break $121?
TradingKey·
- Alibaba completed a $10.2 billion equity placement to fund global computing infrastructure and hyperscale AI data centers, despite facing a negative free cash flow of $6.58 billion due to heavy capital expenditures.
- The company reported June quarter revenue of $39.64 billion with a 9% year-over-year increase, driven by a 45% surge in AI Cloud revenue, while its core e-commerce business experienced uneven growth and a 1% decline in international segments.
- Alibaba stock holds a constructive price structure above the $115.10 support zone, and a breakout past the $121.17 resistance level could trigger further upward momentum toward $130.52.