Alibaba seeks $6.5 billion loan refinance to fund cloud, AI push
Alibaba is in talks with banks to refinance a $6.5 billion loan due next year, Bloomberg reported. The Chinese tech giant is offering a five-year revolving credit facility at under 80 bps over SOFR. Funds will help it preserve cash while investing in cloud, AI, and food delivery. BABA shares are up 45% YTD, with retail sentiment 'bullish.'