Alibaba slides as the e-commerce giant’s cloud arm reportedly plans to slash overseas prices

Alibaba slipped more than 3% Tuesday morning following reports that its cloud unit will cut prices of select Elastic Compute Service products by up to 10.2% in overseas markets including Frankfurt, Tokyo, and Dubai.

The cuts, effective October 30, reflect the company’s push to expand its global footprint. The moves reflect a more targeted regional approach for the company as it seeks to strengthen its footprint in Europe and Asia. Alibaba Cloud made similar price cuts on international cloud products last year.

Competition is hot: Alibaba Cloud sits behind behemoths Amazon, Microsoft, and Google in the global cloud race, coming in fourth worldwide, according to data from Gartner.

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Lucid climbs after Uber revealed to be its second-largest shareholder following recent investment

Shares of luxury EV maker Lucid are up more than 7% in premarket trading on Tuesday, following the release of a regulatory filing that revealed Uber is now its second-largest shareholder, trailing only Saudi Arabia’s PIF sovereign wealth fund.

The news follows an announcement earlier this month that Uber and Lucid would expand their robotaxi partnership from 20,000 planned vehicles to 35,000. Along with the expansion, Uber also said it would invest an additional $200 million into the EV maker.

Per Monday afternoon’s filing, it seems that investment pushed Uber’s ownership stake in Lucid to 11.52%.

Lucid’s stock is down 29% in April. It hit an all-time low of $6.75 on Monday ahead of the regulatory filing becoming public.

In a mark of just how painful the slide has been for Lucid shareholders, as of Monday, the company’s market cap had dropped to a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

4/20/26

BILLIONS IN BILLING

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Justice Department accuses telehealth Zealthy of fraud, says remedy may bankrupt it

The feds say they don’t think Zealthy has the liquidity to pay what it owes customers.

J. Edward Moreno4/14/26

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Americans aren’t drinking as much Mexican beer — that’s not been good for Constellation

The nation’s largest beer importer by sales just saw a 10-year growth streak come to an abrupt end.

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