Chinese tech giant Alibaba Group Holdings Ltd. (BABA) is under scrutiny due to rising concerns of potential threats to the U.S. national security from its cloud business, according to Reuters. Following the news, shares fell 5.1% briefly and ended the day down 2.3% at $128.60 on January 18. Alibaba offers e-commerce, retail, internet, and technology services. BABA stock has lost 51.6% over the past year due to regulatory crackdowns from Chinese government on its tech companies. Alibaba Cloud, A National Threat? The Biden administration is reportedly probing Alibaba’s cloud unit to check how it stores U.S. customers' data, specifically personal information and intellectual property.
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