“Alibaba sheds over $20 billion in market value after scrapping plans to list its cloud business”
November 17, 2023
“…“Instead, we will focus on developing a sustainable growth model based on emerging AI-driven demand for networked and highly scaled cloud computing services,” Alibaba CEO Joe Tsai said on the company’s investor call Thursday…
The development highlights how Alibaba, one of the largest tech companies in China, has become the latest business to get wrapped up in tense geopolitical tensions between the U.S. and China…”