ByteDance’s gaming ambition has been an expensive, short-lived pursuit. In late 2021, the TikTok parent’s plans for video games came into the spotlight after it became one of the firm’s six core business units, posing a new threat to incumbents ...
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Alibaba extends losses to $26 billion in market value after the company announces big reversal of spin-off plans
GoodayfriendsReuters/Aly Song Alibaba has lost $26 billion in market cap since Thursday, after it shelved plans to spin off its cloud business. Executives said they needed to “reset” strategy, and pointed to US restrictions on chip sales to China. The ...