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Friday 20 March 2026

Business

Alibaba, Tencent Shares Lose $66 Billion as AI Vision Falls Flat

by isenews 20 March 2026 0 Comment

Alibaba Group Holding Ltd. and Tencent Holdings Ltd. lost $66 billion of market value in roughly 24 hours, after the market punished the twin leaders of China’s tech arena for failing to lay out clear visions for how to profit off artificial intelligence.

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.

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