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Alibaba Cloud: The tech giant is working with advisers on a potential fundraise by its Cloud Intelligence unit that could mop up about 10-20 billion yuan ($1.38-$2.75 billion), the report said, citing people with knowledge of the matter.
Which of these Chinese tech giants is the better buy right now?
George Soros (Trades, Portfolio) is a billionaire investor and the founder of Soros Fund Management, an investment fund with around $25 billion in assets under management. In the second quarter of 2023, the fund made a number of investments, with a notable one being Chinese tech giant Alibaba Group Holding Ltd. (NYSE:BABA), which is down 68% from its all-time high in October 2020. In March, Alibaba announced it will be splitting the business into six segments each with its own CEO.
The Chinese e-commerce and cloud giant is finally growing again.
Navigating the company's 1st-quarter results and strategic progress