Alibaba Shares Drop on Scrapped Spinoff Plan
By Dean Seal Shares of Alibaba Group fell after the company canceled a spinoff of its Cloud Intelligence Group. The stock was down 8.2% at $79.94 in...
Source: marketwatch.com
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US-China chip war nixes Alibaba's plan to spin out cloud business
Alibaba has called off plans to spin off its cloud computing arm, saying recent tightening of US controls on chip exports to China has created “uncertainties” for the division’s prospects.
Source: cnn.com
alibaba news: Alibaba scraps cloud business spin-off citing US chip curbs
The U.S. decision last month to ban the export to China of more chips used in artificial intelligence (AI) has created major uncertainties for the country's big tech companies. Tencent Holdings said on Wednesday it saw the curbs impacting its cloud services.
Source: indiatimes.com
Alibaba calls off cloud spin-off in major blow to overhaul effort
Decision marks a dramatic reversal on a signature move
Source: gulfnews.com
China's Alibaba Scraps Cloud Unit Spin-Off Citing US Chip Curbs
Chinese e-commerce giant Alibaba said on Thursday it would cancel the spinoff of its Cloud Intelligence arm in light of "the recent expansion of US restrictions on export of advanced computing chips".
Source: ndtv.com