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News that the company would no longer spin off and list its cloud computing business wiped $20bn (£16bn) off its market capitalisation.
Alibaba Group (NYSE:BABA) Holding Ltd founder Jack Ma reversed plans to sell some of his shares in the Chinese e-commerce giant after its stock price...
Some leading companies like OpenAI, Alphabet Inc, Anthropic and Meta Platforms Inc have plenty of GPUs. Alibaba, with $63 billion in cash and annual free cash flow topping $27 billion, finding itself caught short on one of the most important facets of its most-promising business, have led investors to dump the stock, wiping out close to $25 billion in market value in a matter of days
Ahead of China e-commerce giant Alibaba (BABA) posting results, shares rallied to nearly $88.00 before plunging to as low as $77.00. The company startled shareholders when it announced it would cancel spinning off its cloud division. In the Q2 report, ...
The Chinese tech company reported third-quarter earnings of $2.86 a share on revenue of $4.8 billion.