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Tag: Alibaba

Alibaba partners with Apple on AI for iPhones in China
Tech

Alibaba to invest $53bn in AI, marking major shift

Alibaba Group Holding Ltd. plans to invest over 380 billion yuan ($53 billion) in AI infrastructure, including data centers, over the next three years. This major commitment highlights the company’s ambition to become a leader in artificial intelligence. Alibaba, plans to invest more in AI and cloud computing than it has over the past decade. […]

Alibaba to raise HK$12bn in exchangeable bonds
Tech

Alibaba launches AI model, claims it surpasses DeepSeek-V3

Chinese tech company Alibaba launched a new version of its Qwen 2.5 artificial intelligence model on Wednesday, claiming it surpassed the highly-regarded DeepSeek-V3. The timing of the Qwen 2.5-Max’s release, coinciding with the first day of the Lunar New Year when most Chinese people are off work, reflects the pressure DeepSeek’s rapid rise in the […]

Jack Ma expresses confidence in Ant Group's AI future
News

Jack Ma expresses confidence in Ant Group’s AI future

Alibaba co-founder Jack Ma voiced strong optimism about the future of Ant Group, highlighting significant opportunities in artificial intelligence for the fintech giant during a rare public appearance on Sunday. The remarks were made at the 20th-anniversary celebration of Ant Group, which Ma also co-founded, marking his first such appearance since China halted the company’s […]

Alibaba to raise HK$12bn in exchangeable bonds
News

Alibaba agrees to $433.5m settlement in US monopolistic lawsuit

Alibaba has agreed to pay $433.5 million to settle a U.S. class-action lawsuit alleging monopolistic practices, although the company denies any wrongdoing. It said the decision to settle aims to avoid the costs and disruptions associated with ongoing litigation, according to Reuters. The proposed settlement, which requires approval from U.S. District Judge George Daniels, addresses […]

Jack Ma steps out of sabbatical with memo to employees
News

Jack Ma steps out of sabbatical with memo to employees

The co-founder of Alibaba, Jack Ma, has delivered a memo to employees, signaling his support for the internet behemoth’s restructuring endeavors. This gesture, uncommon from the billionaire who has maintained a low profile in recent years, was well-received by the market, with Alibaba’s Hong Kong-listed shares witnessing a 5% surge following the announcement. The memo, […]

Alibaba launches advanced AI coding model ‘Qwen3-Coder’
News

Alibaba Cloud slashes prices to woo AI developers

Alibaba Cloud, the cloud computing arm of China’s e-commerce giant Alibaba Group Holding, unveiled its plans on Monday to significantly slash prices for a range of products hosted in its offshore data centers. This strategic move comes amidst intensifying competition within the market to entice artificial intelligence software developers. The announcement encompasses a substantial reduction […]

Alibaba, RedNote partner to streamline app shopping on Taobao
Tech

Alibaba slashes prices of cloud services by 55%

Alibaba Cloud announced on Thursday that it would reduce prices on some of its products by up to 55%, aiming to attract heavy users, especially artificial intelligence software developers. This marks the second time in less than a year that the cloud division of Alibaba Group Holding has implemented price cuts, following reductions of up […]

Alibaba new CEO prioritizes domestic e-commerce growth
News Tech

Alibaba new CEO prioritizes domestic e-commerce growth

Alibaba Group announced on Wednesday that its new chief executive will be in charge of its domestic e-commerce division directly. The former head of the division will now be overseeing non-core assets as the company struggles with slower earnings growth. With immediate effect, Group CEO Eddie Wu will assume leadership of Taobao and Tmall Group, […]

Alibaba to raise HK$12bn in exchangeable bonds
News Tech

Alibaba cuts quantum computing team

The research arm of Alibaba, a Chinese internet titan, has cut a team and lab dedicated to quantum computing. The facility and associated experimental equipment have been donated by the company to Zhejiang University, they said on Monday. An official with Alibaba’s internal research programme, DAMO Academy, which encompasses the lab, stated that the academy […]

Alibaba, RedNote partner to streamline app shopping on Taobao
News Tech

Alibaba loses $21bn market value after cloud project reversal

The market value worth $21bn of Alibaba Group was on Friday wiped out by investors after the company abandoned plans to spin off its cloud division. The company cited concerns about U.S. restrictions on chip exports to China for artificial intelligence applications. The 10% closing decline in Alibaba Group’s Hong Kong shares was the company’s […]

New Alibaba CEO Eddie Wu unveils plans for company
News Tech

New Alibaba CEO Eddie Wu unveils plans for company

The new CEO of Alibaba Group, Eddie Wu, has disclosed that “User first” and “AI-driven” will be the two key strategic goals moving forward for the digital giant. On his third day in charge, Wu declared that Alibaba would prioritise elevating young workers—specifically, those born after 1985—to become the nucleus of its business management teams […]

Alibaba announces exit of ex-CEO
News

Alibaba announces exit of CEO

      Chinese e-commerce giant Alibaba has announced the surprise departure of former CEO Daniel Zhang. Hangzhou-based Alibaba is a leading Chinese technology company, with operations in cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence. After years of turmoil in the Chinese IT sector, Alibaba announced in March the largest restructuring in […]

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