Alibaba Group has staged an astonishing comeback, adding over $100 billion to its valuation as its U.S.-listed shares quietly surged nearly 60% this year. Once under heavy regulatory pressure and facing intense competition, Alibaba is now reemerging as a dominant force, fueled by a renewed artificial intelligence (AI) push and the return of its visionary co-founder, Jack Ma.
The recent developments surrounding Alibaba Group Holding Ltd. have captured significant attention, following the company’s decision to abandon its plans for the spin-off and IPO of its cloud computing division. This announcement, which coincided with the release of its quarterly earnings last Thursday, prompted a 10% drop in Alibaba’s share price. The reaction from Wall Street analysts has been varied, with some expressing concern over the strategic direction of the company, while others maintain a positive outlook.