Alibaba's Ant Group Ditches A&T Capital As Crypto Venture Funds Continue To Dwindle
Portfolio Pulse from Khyathi Dalal
Ant Group, an affiliate of Alibaba (NASDAQ:BABA), is withdrawing its investment from crypto-focused A&T Capital. This comes after the resignation of founding partner, Yu Jun, amid allegations of sexual harassment and a general downtrend in crypto venture funding. Ant Group has shifted its focus towards AI, introducing an AI model and a tool for financial professionals.
September 18, 2023 | 2:45 pm
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Alibaba's affiliate Ant Group is withdrawing from A&T Capital, shifting its focus to AI. This could potentially impact Alibaba's future investments and strategic direction.
Ant Group's decision to withdraw from A&T Capital and shift its focus to AI could potentially impact Alibaba's future investments and strategic direction. However, the exact impact on Alibaba's stock is uncertain as it depends on the success of Ant Group's new AI initiatives and the overall market sentiment towards AI and crypto investments.
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