• 9988.HK is trading 3.7% down at $95.70 after AI firm Anthropic accused Alibaba of illicitly extracting its Claude AI model capabilities.
  • This comes amidst broader pressure on Chinese tech and persistent macro concerns, with Alibaba also facing ongoing regulatory scrutiny and weak e-commerce consumption trends.
  • The lawsuit marks a significant, unexpected company-specific development for the e-commerce giant.