Alibaba Shares Sink 4.9% to 16-Month Low as Anthropic Alleges Illicit AI Model Access

3 articles · Updated · Bloomberg · Jun 25

Alibaba shares fell as much as 4.9% in Hong Kong, hitting a 16-month low after Anthropic accused the Chinese tech giant of illicitly accessing its AI model.
That drop extended Alibaba's decline this year to 33%, underscoring how the allegation quickly rattled investor confidence in the company's AI ambitions.
Xiaomi and Baidu, both active in large language models, also slid more than 3%, showing the selloff spread across Chinese AI-linked stocks.

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