Alibaba to sell game unit for over $2 billion

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Summary · why it matters

Alibaba shares rose 1.5% premarket after Reuters reported the company is set to sell its Lingxi Games business to private equity firm Trustar Capital for more than $2 billion. Memory chipmakers gained after U.S. Commerce Secretary Howard Lutnick told the Wall Street Journal the Trump administration opposes Apple buying Chinese memory chips, with Sandisk up nearly 5% and Western Digital and Micron Technology up more than 3%. Intel added about 1.5% after CEO Lip-Bu Tan purchased more than 105,000 shares at $95 each, according to an SEC filing. SoFi Technologies rose 2% after Piper Sandler initiated coverage with an overweight rating, and Okta gained 1% after Wells Fargo upgraded the stock to overweight from equal-weight.

Impact on stocks 15

Artificial Intelligence▲ · 7 stocks
Semiconductors▲ · 4 stocks
Micron Technology Inc
MU
▲ PositiveTariffrelevance

US opposes Apple buying Chinese memory chips, potentially boosting domestic demand

Sandisk Corp
SNDK
▲ PositiveTariffrelevance

US opposes Apple buying Chinese memory chips, potentially boosting domestic demand

Cloud & Digital Infrastructure▲ · 2 stocks
Western Digital Corporation
WDC
▲ PositiveDemandrelevance

US opposes Apple buying Chinese memory chips, boosting demand for US chipmakers like Western Digital.

Cybersecurity & Digital Trust▲ · 1 stocks
Okta Inc
OKTA
▲ PositiveCapitalrelevance

Upgraded to overweight by Wells Fargo

Digital Finance & Tokenization▲ · 1 stocks

Off-coverage companies 1

Trustar CapitalPrivate± Mixed
Capitalrelevance

Trustar Capital is the buyer in the deal, but impact on the private equity firm is not detailed.

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