Apple’s (NASDAQ:AAPL) AI pact sends Alibaba (NYSE:BABA) shares skidding after US scrutiny, The New York Times reports.
BABA plunged as much as 4.8% in Hong Kong on Mondayleading the Hang Seng China Enterprises Index lowerafter the White House flagged Alibaba’s planned deal to embed its AI on Apple’s iPhones in China. That drop compounds pressure on Alibaba, whose quarterly revenue recently came in below consensus as iPhone sales in China slid 2.3% in the quarter ended March 29.
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https://finance.yahoo.com/news/alibaba-tumbles-apple-ai-pact-193637666.html