Alibaba Stocks Slide 7.53% on Report U.S. Is Finalizing Remote AI Chip Curbs

What happened: Alibaba shares fell 7.53% to $93.88 in early trading on November 12 after The Information reported the U.S. Commerce Department is finalizing a rule to block Chinese companies' remote access to advanced AI chips. Key numbers: Shares down 7.53% to $93.88. Why it matters: Alibaba took the hardest hit among U.S.-listed Chinese tech peers. Capital spending already runs about 1.4 times AI cloud revenue, so any squeeze on chip access could lift costs or slow capacity growth. The rule has not been published, so the final text and country list are the next test. Market: -6.4% today ($94.60), -38.7% YTD, 1.5x vol — as of 17:33 UTC

Alibaba shares fell 7.53% to $93.88 in early trading on November 12 after The Information reported the U.S. Commerce Department is finalizing a rule to block Chinese companies' remote access to advanced AI chips.

Alibaba took the hardest hit among U.S.-listed Chinese tech peers. Capital spending already runs about 1.4 times AI cloud revenue, so any squeeze on chip access could lift costs or slow capacity growth. The rule has not been published, so the final text and country list are the next test. Market: -6.4% today ($94.60), -38.7% YTD, 1.5x vol — as of 17:33 UTC