Wall Street Breakfast Alibaba dips on reported Apple AI scrutiny
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May 19, 2025 Alibaba's stock takes a hit amid reports of U.S. scrutiny over its AI partnership with Apple. General Motors is pushing to overturn California's electric vehicle mandate, stirring up controversy. Meanwhile, China implements tariffs on several plastics from various countries, affecting global trade dynamics. The tech world buzzes with news like Shopify joining the NASDAQ 100 and upcoming conferences focused on AI, showcasing the ever-evolving landscape of finance and technology.
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US Scrutiny Hits Alibaba's AI Deal
- Alibaba shares dropped after US scrutiny of its AI deal with Apple impacted investor confidence.
- The partnership aimed to put Alibaba's AI on iPhones in China, highlighting tensions in US-China tech collaborations.
GM Opposes California EV Mandate
- General Motors wants to overturn California's EV mandate banning gas car sales by 2035.
- GM claims the rule no longer fits market conditions and may hurt affordability and consumer choice.
China's Tariffs Target US and Allies
- China imposed heavy anti-dumping tariffs on POM copolymer imports from the US, EU, Japan, and Taiwan.
- The tariffs aim to protect domestic manufacturers amidst ongoing US-China trade tensions.