Alibaba falls 8% after Ant denies IPO reports - Breaking The News

Alibaba falls 8% after Ant denies IPO reports

9 June

1 min read

EPA-EFE/ALEX PLAVEVSKI

Alibaba Group Holding's shares listed in the United States decreased by 8% on Thursday, after the Ant Group confirmed it will not revive its initial public offering (IPO).

"Under the guidance of regulators, we are focused on steadily moving forward with our rectification work and do not have any plan to initiate an IPO," the Group's spokesperson confirmed. Alibaba's daughter company Ant Group's IPO was previously suspended in November 2020.

The China Securities Regulatory Commission (CSRC) revealed it has not conducted "evaluation and research work" regarding a potential Ant Group IPO denying reports by the US media that suggested regulators have begun early-stage discussions about reviving the Group's IPO. At 1:51 pm ET, the company's shares dropped by 6.5% selling for $111.83.

alibaba ant jack ma ant group

Related Stocks

Alibaba Health In...

Alibaba Holding L...

Ant allegedly using US, Chinese chips to cut costs

24 March

Ant Group Co. Ltd. is using semiconductors from both China and the United States to minimize artificial intelligence (AI) development costs, CNBC reported on Monday citing a source.According to the source, the tactic not only leads to cost cuts and time reduction in the making of AI models but also ensures that the company limits its dependence on a single supplier like Nvidia Corp. Meanwhile, a previous report by Bloomberg revealed that the business was using...

Alibaba's US shares drop over 10%

24 February

The United States-listed shares of Alibaba Group Holding Ltd. tumbled on Monday falling over 10% following US President Donald Trump's signing of a memorandum related to Chinese investments in the country.In the memorandum, the US head of state ordered the Committee on Foreign Investment in the US (CFIUS) to put restrictions on China-affiliated investments in Washington's strategic sectors, including technology, critical infrastructure, healthcare,...

Alibaba to invest at least $52B in AI over next 3 years

24 February

Alibaba Group Holding Ltd. announced on Monday that it would invest at least 380 billion yuan (around $52.5 billion) in artificial intelligence (AI) and cloud infrastructure over the next three years, "reinforcing its commitment to long-term technological innovation." The Chinese tech giant said this investment exceeds its total AI and cloud spending over the past decade and "underscores the company's focus on AI-driven growth and its role as a leading global...

Alibaba's Q3 revenue up 8% to $38.4B

20 February

Alibaba Group Holding Ltd. reported on Thursday that its revenue for the third quarter of fiscal 2025 increased by 8% year-on-year to 280.2 billion Chinese yuan ($38.4 billion), exceeding expectations. Net income skyrocketed 333% from the same quarter last year to 46.4 billion yuan ($6.4 billion) as diluted earnings per share jumped 261% to 2.55 yuan ($0.35)."This quarter’s results demonstrated substantial progress in our 'user first, AI-driven' strategies and...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.