China's Alibaba scraps cloud unit spin-off citing US chip curbs
China's Alibaba Group on Thursday scrapped plans to spin-off its cloud unit citing uncertainties created by U.S. export curbs ...
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China's Alibaba Group on Thursday scrapped plans to spin-off its cloud unit citing uncertainties created by U.S. export curbs ...
Shares of Alibaba were tumbling in premarket trading as the company said it would shelve some spinoff plans.
US News: Alibaba Group Holding reported a 9% increase in revenue for Q3, reaching 224.8 billion yuan ($31 billion), in line with market expectations. However,
Alibaba canceled its planned spinoff of its cloud computing arm, citing uncertainty following new U.S. export restrictions to China.
(CTN News) - Due to U.S. chip export restrictions, Alibaba's U.S.-listed shares fell on Thursday after the Chinese e-commerce giant decided..........