VC Funding Slump Persists, Plus Alibaba Shares Soar After Ant Group Fine 7/7/23

Despite the hype around generative AI, the funding environment for startups and VCs remains tight according to Pitchbook data. Softbank though is bucking that trend with a new investment in a Japanese robotics startup, just weeks after promising to go back on the offensive. Plus, shares of Alibaba soared today after China hit Ant Group with a nearly $1 billion fine, signaling an end to its era of tech crackdowns, allowing the company and private enterprises in the country more broadly to revive growth.