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SoftBank Group says Alibaba stake dumped, as it shifts to AI

TOKYO -- SoftBank Group on Monday said it has shed almost its entire stake in Alibaba Group Holding, as it focuses on investments in artificial intelligences after posting a third straight year of losses.

The Japanese conglomerate made a loss of 227.6 billion yen ($1.46 billion) in the year ended March, although the figure was smaller than in the previous years. It lost 970.1 billion yen in the previous year and 1.7 trillion yen the year before.