5 d. ago Chip designer Cambricon stays in the spotlight amid market potential

Shares of Cambricon Technologies on Monday closed lower on the Shanghai Stock Exchange after a representative of Alibaba Group Holding denied speculation that it had ordered 150,000 graphics processing units (GPUs) from the Beijing-based AI chip designer. According to the representative, the platform of Alibaba Cloud – the artificial intelligence and cloud computing services unit of e-commerce giant Alibaba – was powered by multiple Chinese-designed GPUs. Alibaba owns the South China Morning...

Politics

8 d. ago Alibaba misses revenue estimates, but AI boosts cloud business

Alibaba misses revenue estimates, but AI boosts cloud business  Reuters

Politics

8 d. ago Alibaba’s quarterly profit surges 78% on equity investments, disposals

Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the...

Economics

8 d. ago Alibaba claims win in China’s instant commerce war as quarterly profit rises

Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to a 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the...

Events

8 d. ago Alibaba confident of winning instant commerce war as quarterly profit rises

Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to a 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the...

Events

2 w. ago Chinese unicorn Z.ai, Alibaba Cloud team up to deploy new AI agent

Chinese artificial intelligence unicorn Z.ai, formerly known as Zhipu, has joined forces with Alibaba Group Holding’s cloud computing unit to push a new general-purpose AI agent for smartphones, tablets and desktop computers that handles everyday tasks such as ordering food and making reservations online. Beijing-based Z.ai, which created the AI agent, said it was free and available on the Android and iOS mobile platforms, as well as for web terminals, according to its announcement via WeChat...

Politics

2 w. ago Alibaba, Ant combine forces to take on Meituan in instant commerce market

Alibaba Group Holding and its fintech affiliate Ant Group, both co-founded by Jack Ma, have joined forces to create an army of delivery service workers to defeat Meituan in the instant commerce market. A total of 22 businesses operated by Alibaba and Ant, including domestic online marketplaces Taobao and Tmall, Ant’s Alipay payment service and Alibaba Cloud, have pledged to improve the conditions of millions of delivery riders. Alibaba owns the South China Morning Post. Alibaba’s move to pool...

Politics

4 w. ago Unicorn Z.ai adapts models for Huawei chips to broaden China’s AI ecosystem

Chinese unicorn Z.ai, formerly known as Zhipu AI, has adapted its GLM artificial intelligence models for Huawei Technologies’ semiconductors, bolstering the country’s broad push for technology self-sufficiency. Beijing-based Z.ai said its GLM models were now compatible with Huawei’s Ascend processors, which are used on AI servers, and Kirin chips that run inside smartphones and laptops, according to the start-up’s statement on Saturday. “The tie-up marks a major breakthrough in cloud-device...

Politics