China’s tech giants Alibaba and Tencent saw their market value drop by $66 billion in just 24 hours due to investors’ disappointment over the lack of clear plans for profiting from artificial intelligence. After betting on AI advancements, investors pulled out of the sector when results failed to materialize, leaving a path to monetization unclear.
Source: https://www.bloomberg.com/news/articles/2026-03-20/alibaba-tencent-shed-66-billion-after-ai-vision-falls-flat