Alibaba scraps cloud business spin-off citing US chip export ban

Alibaba scraps cloud business spin-off citing US chip export ban

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration

Alibaba Group has scrapped plans to spin-off its cloud business, citing uncertainties created by U.S. export curbs on chips used in artificial intelligence applications.