Alibaba and Tencent Lose $66 Billion in Market Value Amid AI Profit Doubts
Key Points: Alibaba and Tencent saw a combined $66 billion wiped from their market value in just 24 hours. Investors are increasingly anxious about the massive investments Chinese tech giants are making in artificial intelligence without clear plans for generating revenue. Alibaba reported a massive 67% drop in its quarterly net income, further spooking the market. Despite promising new AI tools like the OpenClaw platform,...