Alibaba sheds HK$88 billion after dispute over Anthropic Claude AI claim
Alibaba Group Holding dropped sharply Thursday, as AI-security concerns shifted into the stock price. The shares in Hong Kong ended at HK$95.00, off 4.43%, trading as low as HK$94.00 during the session. Turnover jumped to 141.4 million shares, well above the 93.91 million average. Based on a closing market cap of HK$1.90 trillion, the one-day drop wiped out about HK$88 billion in value. Anthropic told U.S. senators Tim Scott and Elizabeth Warren in a June 10 letter that groups tied to Alibaba and Alibaba Qwen used nearly 25,000 fake accounts to make over 28.8 million interactions with Claude between April 22 and June 5. Alibaba did not respond to Reuters’ request for comment.
