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Alibaba s U-turn on cloud unit spin-off lops $20 bil off its market value

Alibaba Group s Hong Kong shares slumped 10 percent on Friday after it scrapped plans to spin off its cloud business, citing uncertainties fuelled by U.S. curbs on exports to China of semiconductors used in artificial intelligence applications.

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Alibaba s U-turn on cloud unit spin-off lops $20 billion off its market value

The drop, potentially its biggest one-day fall in more than a year, wiped about $20 billion off the Chinese tech giant s market value.

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Alibaba s U-turn on cloud unit spin-off lops $20bln off its market value

Alibaba s U-turn on cloud unit spin-off lops $20bln off its market value
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Alibaba s HK shares tumble 10% after cloud unit spin-off shelved

Alibaba s HK shares tumble 10% after cloud unit spin-off shelved
chinadailyhk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadailyhk.com Daily Mail and Mail on Sunday newspapers.

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Alibaba s Market Value Plunges By $20B As Cloud Unit Spin-Off Plans Get Shelved - Alibaba Gr Holding (OTC:BABAF)

The unforeseen move has sparked doubts among investors about potential undisclosed issues within the company

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