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Alibaba plunges $20 billion over US-China chip war
Credit: IndiaTimes- Published on November 17, 2023
Alibaba Group Holding Ltd. has reversed its plans to spin off and list its $11 billion cloud business due to the escalating fight between the US and China for technological dominance. The company cited the US's increasing restrictions on chip sales to China as a reason for the strategy reset. The decision has caused Alibaba's...
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