Why Shares of Alibaba Are Falling Today
Shares of the large Chinese tech conglomerate Alibaba (NYSE: BABA) traded nearly 6% lower as of 2:10 p.m. ET today after the Chinese government proposed stricter regulation on artificial intelligence.
Yesterday, China's Cyberspace Administration issued draft rules regarding how the agency plans to oversee artificial intelligence.
Included in the proposed rules is the requirement that Chinese companies clear a government security review before releasing AI technology. Companies that deploy AI will also bear the responsibility for the content that it creates, which will likely increase their liability if something goes wrong. It may also make companies think twice before releasing certain AI capabilities.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€74.90
0.270%
The stock is one of the favorites of our community with 42 Buy predictions and 2 Sell predictions.
With a target price of 109 € there is a positive potential of 45.53% for Alibaba Group Holding Ltd ADR compared to the current price of 74.9 €.
