Alibaba Group is trading up now at ARS 22420.00 (+3.60%) after agreeing to sell its Lingxi Games division to Trustar Capital for at least $1.5 billion.
- Reuters reported Alibaba could receive more than $2 billion, supporting management’s strategy of exiting non-core assets.
- That strategy prioritizes artificial intelligence and cloud computing.
- Broader technology stocks declined as geopolitical tensions lifted oil prices and bond yields, but the company-specific catalyst outweighed that weakness.