Alibaba (BABA) Stock Sinks 7% as Nvidia Drama Reaches Hong Kong

Alibaba Shares Drop 7% as Nvidia Saga Triggers Chip Access Fears

Chinese artificial intelligence stocks tumbled on concerns that cloud operators’ access to advanced chips may face tighter US scrutiny amid the escalating espionage and leadership controversy surrounding Nvidia Corp.

Nvidia Crisis Crescendoes As Huang Ousted, Alibaba Plunges

Earlier this week, the Financial Times identified Alibaba as an “anchor customer” for Megaspeed, the Singapore-based neocloud formerly led by Alice Huang. Huang, the alleged Chinese intelligence asset whose romantic relationship with Jensen Huang put Nvidia at the center of a global espionage scandal, boasted of her company’s access to

China's AI Chip Stocks Benefit From Nvidia Drama

Key News Asian equities were lower as Nvidia’s Asia supply chain traded lower. As a result, Korea and Hong Kong underperformed, while Indonesia outperformed. Hong Kong’s AI hyperscalers took the brunt of the Nvidia fallout, as Alibaba fell -6.76% and Tencent fell -2.64%. It is becoming clear that Alibaba helped finance Megaspeed to access Nvidia […]

Alibaba (BABA) Stock Sinks 7% as Nvidia Drama Reaches Hong Kong

TLDR Alibaba (BABA) stock closed down 6.8% at HK$93.80 in Hong Kong on Thursday. The Wall Street Journal reported that Nvidia’s board is preparing to oust CEO Jensen Huang. Alibaba was a key client of Singapore-based Megaspeed, which has been linked to the controversy. U.S. lawmakers are demanding tighter chip export restrictions. MiniMax and Z.AI [...]