Alibaba Slumps to 16-Month Low After Anthropic AI Theft Allegations
Alibaba shares hit a 16-month low in Hong Kong after Anthropic accused the Chinese tech giant of illicitly accessing its AI model, reigniting geopolitical risk in tech stocks.
Alibaba Group Holding Ltd. shares slid to a 16-month low in Hong Kong trading on Thursday after Anthropic PBC accused the Chinese e-commerce and cloud giant of illicitly accessing its proprietary artificial intelligence model. The drop extends a recent downtrend for Alibaba, which has faced mounting headwinds from regulatory scrutiny and slowing growth in its core businesses.
For equity traders, the allegations introduce a fresh layer of geopolitical risk into an already volatile sector. The tech-heavy Hang Seng Index has been under pressure amid US-China tensions over technology transfer and data security. Alibaba's decline also weighed on other Chinese tech names, as investors reassess the regulatory and competitive landscape for AI development in China. The stock's slide below key support levels could trigger further selling, especially if the allegations lead to formal investigations or restrictions on Alibaba's AI operations. NowPrice's real-time stock quotes show the latest levels for Alibaba and other affected equities.
Looking ahead, traders will watch for any official response from Alibaba or Chinese regulators, as well as potential escalation from Anthropic or US authorities. The broader market will also monitor upcoming earnings reports from major US tech firms, which could shift sentiment toward the sector. Key technical levels for Alibaba include its prior low around the 16-month trough, with resistance near recent consolidation zones. Any news on AI regulation or cross-border data flows could drive further volatility.