The Rosen Law Firm has launched a class action lawsuit against Alibaba Group Holding Limited following allegations that Alibaba misled investors by providing false business information. The claims stem from a Financial Times report accusing Alibaba of illicitly accessing Anthropic's AI model, Claude, through fake accounts. After the news, Alibaba's shares dropped 2.7%. Investors who bought Alibaba securities may be eligible for compensation through this lawsuit, which is being pursued on a contingency fee basis.
On August 27, 2026, major Chinese internet stocks diverged sharply: Alibaba, PDD Holdings, and JD.com fell between 1% to 4%, while Baidu, focused on AI and cloud services, rose 4%. This split reflects a rotation in investor interest favoring AI expos...
Alibaba reported a mixed quarter with sharply lower profits and negative free cash flow due to heavy capital expenditures, which rose 75% to RMB67.68 billion. However, AI Cloud and Compute Services revenue surged 45% year-on-year, with AI product rev...
