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Tag: Alibaba

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 […]

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

Alibaba introduces new AI model

In response to the intensifying competition for technological supremacy, Alibaba has unveiled a new artificial intelligence model that it claims is capable of understanding photos and having dialogues that are more complicated than those of the company’s prior products. The Chinese technology giant reportedly told CNBC that its two new models, Qwen-VL and Qwen-VL-Chat, will […]

Chinese tech giants secure $5bn worth of Nvidia chip orders
Tech

Chinese tech giants secure $5bn worth of Nvidia chip orders

China’s leading internet giants are swiftly securing high-performance Nvidia chips crucial for developing generative artificial intelligence systems. Orders totaling $5 billion have been placed for these chips, as reported by the Financial Times on Wednesday. Companies such as Baidu, ByteDance (owner of TikTok), Tencent, and Alibaba have collectively made orders amounting to $1 billion to […]

Alibaba considers selling shares to Ant as probe ends
News Tech

Alibaba considers selling shares to Ant as probe ends

Alibaba Group Holding Ltd. is considering selling shares to Ant Group Company as part of the fintech company’s planned buyback. This follows the conclusion of a nearly three-year investigation by financial regulators into the financial technology business. In a stock exchange statement in Hong Kong, Alibaba, which owns nearly a third of Ant, stated that […]

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

Alibaba partners Huawei to launch AI image generator

Alibaba Group and Huawei Technologies Co. on Friday unveiled new products, including an AI picture generator and an AI model improvement as Chinese companies compete for a place in the global AI race. Tongyi Wanxiang is an image generator that will first be made accessible to enterprise clients in beta form, and it was unveiled […]

Jack Mi
Business

Alibaba to surrender control of some business units

Alibaba Group has announced plans to monetize non-core assets and potentially give up control over some of its businesses. According to Reuters, the reason for this is that the company is reinventing itself after a regulatory crackdown caused a significant drop of 70% in its shares. The CEO of Alibaba Group, Daniel Zhang, who was […]

Business

SoftBank shares rise after Alibaba split

SoftBank Group Corp’s shares rose on Wednesday after Alibaba Group announced a major restructuring plan. SoftBank has a 13.7% stake in Alibaba. Reuters reported that SoftBank’s shares increased by 5.6% in the afternoon trade, the biggest gain in five months. Meanwhile, Alibaba’s shares went up by 13.2%. AMBusiness reported on Tuesday that Alibaba plans to […]

Jack Mi
Business

Alibaba to split business into six units 

Alibaba Group Holding Ltd has on Tuesday announced it plans to divide its business into six main units that will focus on e-commerce, media, and cloud. According to Reuters, the company also stated that each unit will consider raising funds or holding initial public offerings. Alibaba is a Chinese multinational technology company specializing in e-commerce, […]

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