Alibaba Unloads $360 Million of Bilibili in Latest Asset Sale.

ALIBABA Group Holding Ltd.; AMERICAN depository receipts; ELECTRONIC commerce; LOADING & unloading; ASSETS (Accounting)

Alibaba Group Holding Ltd. has sold approximately $360 million of stock in Chinese streaming platform Bilibili Inc. at a discounted price. This is part of Alibaba's ongoing efforts to raise capital for investments in artificial intelligence (AI) and revitalize its business. Alibaba has been reducing its holdings over the past year, including shares in electric-vehicle maker XPeng Inc. and AI firm SenseTime Group Inc. The company is undergoing an overhaul to refocus on core retailing and technology-oriented fields. Additionally, Alibaba is considering selling its InTime department store arm and has set up a separate entity to manage its global assets. [Extracted from the article]

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