Alibaba, Tencent Shares Lose $66 Billion as AI Vision Falls Flat
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Alibaba’s US shares fell their most since October, following Tencent’s worst drubbing in almost a year on Thursday. Investors that had piled into the sector’s biggest names over the past week — betting the advent of OpenClaw-style AI agents would galvanize the industry — reversed course after disappointing results, with no clear path to monetization in sight. The dramatic reaction reflects investors’ anxiety about the increasing amounts that China’s tech leaders are plowing into data centers, talent hires and model development — without a roadmap to actual revenue.
📄 Summary
Alibaba’s US shares fell their most since October, following Tencent’s worst drubbing in almost a year on Thursday. Investors that had piled into the sector’s biggest names over the past week — betting the advent of OpenClaw-style AI agents would galvanize the industry — reversed course after disappointing results, with no clear path to monetization in sight. The dramatic reaction reflects investors’ anxiety about the increasing amounts that China’s tech leaders are plowing into data centers, talent hires and model development — without a roadmap to actual revenue.