Page 18 - Cloud Intelligence Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Alibaba Group Holding Limited (NYSE: BABA) shares tumbled almost 10% in Hong Kong today after its announcement that it will not proceed with the spinoff of its cloud group that competes with Amazon.com Inc (NASDAQ: AMZN) Amazon Web Services as well as with Microsoft Corporation (NASDAQ: MSFT) Microsoft Azure. The Cloud Intelligence Group Will Not Be Publicly Listed Due To U.S. Chip Export Restrictions Alibaba revealed it will not be listing its cloud computing segment that is the infrastructure

Although the firm is still undervalued, we now prefer JD.com, as we think it’s more likely to turn around next year.

(Bloomberg) -- Alibaba Group Holding Ltd. has called off a spinoff of its giant cloud business after the US tightened curbs on advanced chips for China, stunning investors and casting in doubt a historic overhaul announced mere months ago.Most Read from BloombergHamas Chief Who Deceived Israel Is Target No. 1 Deep UndergroundBiden, Xi Declare Progress After Concluding Four-Hour SummitXi Says China Seeks to Be Friends With US, Won’t Fight ‘Hot War’Israel Latest: Biden Defends Hospital Raid, Says

HONG KONG -- Alibaba Group Holding has reversed a plan to fully spin off its cloud unit, the company said Thursday, in a surprise move that the Chinese group…

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero