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Tag: 9988.HK

Alibaba Scraps Cloud Unit Spinoff, Citing Washington’s Chip Curbs
16Nov By adminNo Comments
World

Alibaba Scraps Cloud Unit Spinoff, Citing Washington’s Chip Curbs

Nov. 16, 2023 10:10 am ETSINGAPORE—Washington’s latest curbs on the export of high-performance chips to China are beginning to bite.Alibaba on Thursday said it had scrapped its plan to spin off and list its cloud-computing division, citing the impact of the export controls that took effect late last month. The restrictions “may materially and adversely affect” the cloud business’s ability to offer products and services and to perform under existing contracts, Alibaba said, adding that it would focus on the division’s growth.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Alibaba’s Spinoff Plans Fall to Earth
16Nov By adminNo Comments
World

Alibaba’s Spinoff Plans Fall to Earth

Alibaba’s shareholders finally got their first dividend. But that may not be enough to compensate for hiccups in its spinoff plan and slowing growth.The Chinese e-commerce giant on Thursday announced its first annual dividend since going public in 2014. The company will dish out around $2.5 billion—but that translates to only a 1.1% dividend yield using Wednesday’s closing price.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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SoftBank Loses $6.2 Billion in Quarter as WeWork Weighs on Investments
9Nov By adminNo Comments
World

SoftBank Loses $6.2 Billion in Quarter as WeWork Weighs on Investments

TOKYO—SoftBank Group sank deeper into the red in the July-September period as it reported write-downs related to the bankruptcy of office-sharing company WeWork and technology shares stayed under pressure amid rising interest rates in the U.S.The Japanese technology investor posted a net loss of 931.1 billion yen, equivalent to $6.2 billion, for the quarter ended Sept. 30. That is compared with a 477.6 billion yen loss in the April-June quarter and 3.034 trillion yen profit a year earlier, when it unwound its stake in Alibaba Group Holding.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs
31Oct By adminNo Comments
World

Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs

Oct. 30, 2023 11:00 pm ETSINGAPORE—New U.S. export controls may compel artificial-intelligence giant Nvidia to cancel billions of dollars in next-year orders for its advanced chips to China, a move that could deprive Chinese tech companies of crucial AI resources.The Santa Clara, Calif.-based company had already finished delivering orders of its advanced AI chips to China for this year, according to people familiar with the matter, and was pushing to deliver some 2024 orders in advance before the new rules were scheduled to come into effect in mid-November.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs
31Oct By adminNo Comments
Technology

Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs

Oct. 30, 2023 11:00 pm ETSINGAPORE—New U.S. export controls may compel artificial-intelligence giant Nvidia to cancel billions of dollars in next-year orders for its advanced chips to China, a move that could deprive Chinese tech companies of crucial AI resources.The Santa Clara, Calif.-based company had already finished delivering orders of its advanced AI chips to China for this year, according to people familiar with the matter, and was pushing to deliver some 2024 orders in advance before the new rules were scheduled to come into effect in mid-November.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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