TECH - Alibaba's Past Future And Competition - What's Going On? | Benzinga
Alibaba Group Holding Ltd (NYSE: BABA) has experienced a challenging year, marked by setbacks and uncertainties in its trajectory as artificial intelligence gains prominence.
The tech giant's U.S. market value fell below that of e-commerce competitor PDD Holdings Inc (NASDAQ: PDD), reflecting industry struggles.
Once celebrated for its record IPO in 2014, Alibaba faced a $2.8 billion fine in 2021 for alleged monopolistic behavior, reflecting China's stringent crackdown on internet tech companies, CNBC reports.
Also Read: Alibaba's Share Buyback Plan and Lazada Layoffs Reflect Shifting Dynamics in Tech Giant's Strategy
In 2023, Alibaba withdrew plans for a public listing of its cloud computing unit amid internal management changes, signaling deeper issues within the company.
Alibaba's stock plummeted to below ...