Alibaba stock drops to 16-month low
Alibaba Group Holding shares slid to a 16-month low in Hong Kong after Anthropic reportedly accused the company of accessing its AI model illicitly.
The company’s stock tumbled as much as 4.9%, extending this year’s losses.
Alibaba’s decline is attributed to the accusations made by Anthropic, which claims the Chinese technology giant accessed its artificial intelligence model without permission.