Alibaba calls off cloud spinoff in major blow to overhaul effort
The company announced its decision along with quarterly earnings.
Source: moneyweb.co.za
Page 19 - Cloud Intelligence Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Cloud Intelligence Group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Cloud Intelligence Group Today - Breaking & Trending Today
China's Alibaba to scrap cloud unit spinoff in response to US chip curbs
Alibaba Group on Thursday scrapped plans to spin-off its cloud business, citing uncertainties created by U.S. export curbs on chips used in artificial intelligence applications. The announcement came alongside in-line second-quarter revenue from the Chinese e-commerce group, which in March had unveiled plans to carve out the cloud business as part of the biggest restructuring in its 24-year history. The company also put on hold plans for an initial public offering of its Freshippo groceries business but said it would prepare external fundraising for its international digital commerce group a...
Source: yahoo.com
Alibaba shares slide 5% after it disappoints on profit, curbs cloud spinoff
Shares of Chinese e-commerce giant Alibaba slid after it announced that it would not proceed with the full spin-off of its cloud group.
Source: nbcphiladelphia.com
Why WMT-N, M-N, CSCO-Q and more stocks are seeing action on Thursday
A survey of North American equities heading in both directions
Source: theglobeandmail.com
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 Chines
Source: nikkei.com