HONG KONG -- Alibaba Group Holding has reversed a plan to fully spin off its cloud unit, the company said Thursday, in a surprise move that the Chinese group attributed to tougher U.S. controls on chip technology.
China tech
Alibaba shares plunge after reversing spinoff plan of cloud unit
Jack Ma's family trusts to sell down stakes in e-commerce group for nearly $871m
Alibaba has been betting on its cloud computing services and is striving to establish itself as an AI leader in China. © Reuters
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