Alibaba and ByteDance Exit Gaming Assets as Capital Shifts Toward AI

Alibaba has agreed to sell its Lingxi games unit to private-equity firm Trustar Capital for more than $1.5 billion. ByteDance earlier sold Moonton, publisher of Mobile Legends: Bang Bang, to Saudi-backed Savvy Games Group in a deal reported near $6 billion. The transactions reflect a broader reallocation of capital inside Chinese internet groups rather than a simple collapse of their gaming ambitions.