What's Going On With Alibaba Stock Wednesday
Portfolio Pulse from Anusuya Lahiri
Alibaba's stock is trading lower due to reports of the U.S. adopting a stricter stance over China's AI ambitions. The U.S. plans to revise export controls on AI chips to limit China's access to advanced technologies with military applications. Alibaba recently revealed its large language model (LLM), Tongyi Qianwen, and plans to incorporate it across various businesses. Alibaba's fintech affiliate Ant Group is developing large-language model technology to power ChatGPT-style services. Nvidia bagged significant orders from major Chinese internet companies, including Alibaba.
June 28, 2023 | 11:53 am
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Alibaba's stock is trading lower due to the U.S.'s stricter stance on AI chip exports to China. This could impact Alibaba's AI projects.
The U.S.'s stricter stance on AI chip exports to China could limit Alibaba's access to advanced technologies, potentially impacting its AI projects and causing its stock to drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nvidia has received significant orders from major Chinese internet companies, including Alibaba. However, the U.S.'s stricter stance on AI chip exports could impact these orders.
Nvidia's significant orders from Chinese companies could be impacted by the U.S.'s stricter stance on AI chip exports, potentially causing its stock to drop.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70