Archive
Scion Capital founder Michael Burry has divested his stake in Alibaba Group Holding Ltd. to build a large position in rival JD.com Inc., criticizing Alibaba's stock valuation ahead of its $10.2 billion share sale in Hong Kong.
Alibaba Group Holding Ltd. is planning a follow-on share offering to raise roughly $10 billion aimed at expanding its artificial intelligence capabilities, offering 710 million shares at a 3.6% discount to Friday's close.
Baidu posted a 4 percent decline in second-quarter revenue as weakness in China's advertising market overshadowed gains across its artificial intelligence and cloud divisions.
