Alibaba Group Holding Ltd completed a HK$80 billion share sale in Hong Kong, selling 710 million shares at HK$112.70 each. The offering occurred at a 3.6 percent discount to the prior close of its U.S.-listed shares, after which the stock fell 8.5 percent. The company also announced a multi-year AI investment commitment and the launch of its Wan3.0 video model.