INNSUITES HOSPITALITY TRUST (IHT): Entry into a Material Definitive Agreement

Alibaba priced a $10.2 billion stock sale to fund AI, the largest ever by a Hong Kong-listed company. Shares fell 8.4% in Hong Kong, while U.S. shares traded flat. Alphabet and Intel also raised funds for AI this year. Alibaba's cloud revenue grew 45% YoY, but net income fell 75% and free cash flow was negative.

Alibaba (BABA) raised $10.2B via a HK share placement to fund AI investments, including computing infrastructure and AI model development. The offering, oversubscribed, will dilute shareholders. Alibaba's latest earnings showed a 75% drop in net profit and a 75% increase in capital expenditures, but AI Cloud and Compute Services revenue rose 45%.

Shell (NYSE:SHEL) may sell its U.S. chemicals business for up to $8B, with ExxonMobil (XOM) and LyondellBasell (LYB) among potential buyers. The sale aligns with CEO Wael Sawan's strategy to focus on higher-return sectors like oil, gas, and LNG. Shell's Q2 2026 net profit was $9.84B, with net debt at $41.8B. The move could reinforce Shell's focus but risks undervaluing long-term chemicals demand.

Abbott Laboratories (NYSE:ABT) agreed to pay $670M to settle NEC-related claims involving its preterm infant formulas, though it denies liability. The settlement resolves 2,000 cases but leaves 12,700 potential claims unresolved. Abbott reaffirmed its 2026 sales growth guidance and raised adjusted EPS outlook to $5.45-$5.60 after Q2 results. The company faces ongoing litigation and reputational risks, but its diversified business may absorb the costs.

RUM Group Inc. (formerly Rumble Inc.) secured a $13.7 billion AI infrastructure deal with an undisclosed customer for a Georgia data center. The company lacks financing for the project but remains obligated under the agreement. The customer will receive cloud GPU services and the option to buy 51 million shares at $0.01 per share. Tether, RUM's largest shareholder, previously invested $775 million in the company.

Xpeng's robotics unit secured $900 million in funding from investors including Tencent and Alibaba. The funding round highlights growth potential in the robotics sector, though Xpeng's shares fell 8.53% due to a third-quarter guidance miss.