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Alibaba Flagged That US Chip Curbs Clouded Its Cloud Computing Prospects

Alibaba Group Holding Limited (NYSE: BABA) shares tumbled almost 10% in Hong Kong today after its announcement that it will not proceed with the spinoff of its cloud group that competes with Amazon.com Inc (NASDAQ: AMZN) Amazon Web Services as well as with Microsoft Corporation (NASDAQ: MSFT) Microsoft Azure. The Cloud Intelligence Group Will Not Be Publicly Listed Due To U.S. Chip Export Restrictions Alibaba revealed it will not be listing its cloud computing segment that is the infrastructure ....

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