Alibaba Group Holding Limited (NYSE:BABA) has its hands full as it remains engaged in battling domestic e-commerce rivalry with PDD Holdings Inc (NASDAQ:PDD) during the biggest shopping extravaganza while also consolidating its position in the artificial intelligence battle versus Microsoft Corp (NASDAQ:MSFT) backed OpenAI.
One positive update for Alibaba’s AI endeavors is that AI kingpin Nvidia Corp’s (NASDAQ:NVDA) plans to release three new chips for China following the U.S. embargo on AI technology in China.
Meanwhile, the European Commission has started investigating the Chinese e-commerce major’s online retail service iExpress over its measures for protecting consumers online from illegal products, including fake medicines, as part of DSA compliance, SCMP reports.
The EU also initiated probes on Alphabet Inc (NASDAQ:GOOG) (NASDAQ: GOOGL) YouTube, and TikTok to find out their safety measures for the protection of minors.
The EU’s executive arm remained focused on scrutinizing the measures undertaken by the video-sharing platforms to comply with the Digital Services Act (DSA).
Price Action: BABA shares are trading lower by 0.54% at $82.28 premarket on the last check Friday.
