Alibaba Group Holding LtdAnthropic accused Alibaba of illicitly accessing its Claude AI models, leading to a 4.9% drop
Alibaba shares fell to a 16-month low in Hong Kong after Anthropic reportedly accused the company of illicitly accessing its Claude AI models. The stock dropped as much as 4.9% on Thursday, extending its 2026 decline to 33%, while its U.S.-listed shares fell 3% on Wednesday. The pressure spread to other Chinese AI names, with Baidu and Xiaomi both dropping more than 3%. Bloomberg reported that Anthropic sent a letter to White House officials and U.S. senators alleging Alibaba was involved in an industrial-scale effort to access Claude, describing the activity as distillation where a smaller model is trained using outputs from a more powerful model. The accusation reportedly involved operators linked to Alibaba and Qwen, Alibaba's AI lab.
Alibaba Group Holding LtdAnthropic accused Alibaba of illicitly accessing its Claude AI models, leading to a 4.9% drop
Xiaomi CorpPressure spread to other Chinese AI names, with Xiaomi dropping more than 3%
Baidu IncPressure spread to other Chinese AI names, with Baidu dropping more than 3%
Astera Labs, Inc.Anthropic is the accuser, alleging Alibaba's illicit access to its AI models