Alibaba Group Holding Ltd’s cloud division is considering a private round of fundraising from Chinese state-owned enterprises. This fundraising effort comes in preparation for the division’s market debut in Hong Kong. According to Bloomberg News, Alibaba is working with advisors on the potential Cloud Intelligence Unit fundraising, which could generate between $1.38 billion to $2.75 billion. The funds raised would help fuel the growth and development of Alibaba’s cloud division.