"Alibaba's Resilience: Stock Rises and AI Pivot Amidst Market Challenges and Turnaround Efforts"
Alibaba, once Asia's most valuable tech company, is facing challenges in its restructuring efforts, according to the Financial Times. The company, which was valued at over $800 billion at its peak, is dealing with internal confusion and regulatory pressure from Beijing, including a record $2.8 billion antitrust fine in 2021. Despite splitting into six separate businesses in March 2023, employees are uncertain about the future of their units, and some loss-making divisions are resisting spin-offs. Additionally, Alibaba's focus on restructuring is hindering its ability to compete with rising rivals in the e-commerce space. The company has not yet responded to requests for comment on these developments.
