3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022.
Alibaba said its decision to shelve the spin-off was due to uncertainties fuelled by U.S. curbs on exports to China of chips used in artificial intelligence applications.
Following are what people are saying about the decision:LI CHENGDONG, BEIJING-BASED TECH AND E-COMMERCE ANALYST:"I believe scrapping the cloud unit's IPO reflects a new development strategy implemented by the new leadership.
In short, I think prior decisions to restructure and IPO certain business units will have to be reassessed based on prevailing market conditions.
The international business is one of the few Alibaba units that’s growing fast, which puts it in a better position to explore external funding."
Persons:
Dado Ruvic, Alibaba, LI, Daniel Zhang, Zhang, BRIAN WONG, CHARLIE CHAI, Eddie Wu, SERN LING, Casey, Josh Ye, Yelin, Anne Marie Roantree, Muralikumar Anantharaman
Organizations:
REUTERS, China's, HK, Cloud Intelligence, Casey Hall, Thomson
Locations:
HONG KONG, Hong Kong, China, BEIJING, AliCloud, Alibaba, Shanghai, Yelin Mo, Beijing