Published on 22 Mar 2024 on Benzinga
...Stake to Fuel AI Ambitions and Business Revamp Why Bilibili Stock Is Trading Lower Today -...
Alibaba Group Holding Ltd BABA has offloaded nearly $360 million worth of stock in Bilibili Inc BILI, a Chinese streaming platform, marking a significant step in its strategy to gather funds for AI investments and rejuvenate its business.
The e-commerce giant sold 30.85 million Bilibili American depositary receipts at $11.60 each, which reflects a 5.5% discount to Bilibili’s closing price on a recent Wednesday, leading to a plunge in Bilibili’s stock.