Alibaba scraps plans to hive off cloud business amid growing chip uncertainties reseller.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reseller.co.nz Daily Mail and Mail on Sunday newspapers.
The unexpected decision to abandon plans to hive off the cloud computing business led to a $20 billion decline in Alibaba Group’s market value on Friday, as its shares fell 10% in Hong Kong.