US Stock Market Move | Denial of Investment Rumors DeepSeek Alibaba Group Holding Limited Sponsored ADR (BABA.US) pre-market gains narrowed to 3%

On Friday, Alibaba Group Holding Limited Sponsored ADR (BABA.US) saw its stock price rise over 7% in pre-market trading, but later reversed course and the increase narrowed to 3%, closing at $104.10. In terms of news, there were rumors in the market today that Alibaba Group Holding Limited Sponsored ADR plans to invest $1 billion in DeepSeek at a valuation of $10 billion, acquiring a 10% stake. In response, Alibaba Group Holding Limited Sponsored ADR stated that, both being companies based in Hangzhou, they applaud DeepSeek, but the information circulating about Alibaba's investment in DeepSeek is false.