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Alibaba shares tumble after SoftBank reportedly sells most of its stake

by Editor April 13, 2023, 1:13 am 1.7k Views

Alibaba shares tumble after SoftBank reportedly sells most of its stake

Alibaba Cloud, the cloud computing subsidiary of Alibaba, unveiled its ChatGPT-style product Tongyi Qianwen during the 2023 Alibaba Cloud Summit on Tuesday morning.

Bloomberg | Bloomberg | Getty Images

Alibaba shares dropped nearly 3% in after-hours trading after regulatory files revealed that SoftBank has sold a majority of its stake in the company.

SoftBank has sold roughly $7.2 billion worth of shares in the Chinese ecommerce giant via…

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