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The Latest Breaking News from Alibaba

Billionaires and bureaucrats mobilize China for AI race with US

China’s tech sector has a new obsession: competing with U.S. titans like Google and Microsoft Corp. in the breakneck global artificial intelligence race.

Tribune News Service

Chinese billionaires go all-in on AI

China’s tech sector has a new obsession: competing with US titans like Google and Microsoft in the breakneck global artificial intelligence "arms race".

Bangkok Post

Alibaba entrepreneur masterclass seeking applicants

The first global edition of Alibaba Netpreneur Masterclass is accepting applications from entrepreneurs worldwide, including Thailand, who are interested in gaining insights into the digital economy, until July 14.

Bangkok Post

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Alibaba CEO Steps Down; Buy the Dip in the Stock?

Alibaba Chairman and CEO Daniel Zhang will step down from his role and serve as CEO of the company's upcoming spinoff. Here's the trade.

The Street

Shanghai Composite Index Fell 1.31% on Wednesday

Shenzhen Component Index closed down 2.18%

Caixin Global

Stock Market Today: Stocks Close Lower Ahead of Powell Testimony

Energy stocks were some of Tuesday's biggest decliners, while Alibaba slid on a C-suite shake-up.

Kiplinger

Dow Jones Dips As Boeing Stock Dives On This; These Warren Buffett Stocks Are Near Entries

The Dow Jones fell as Nike and Boeing stock tumbled. A trio of Warren Buffett stocks are near entries. China stock Alibaba plunged.

Investors Business Daily

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Stock Market Claws Back At Midday; AI Robotics Stock Takes A Break

The major indexes trimmed earlier losses in today's stock market. Filtration stock rallies after analysts' coverage and is a recent IPO.

Investors Business Daily

Dow Jones Falls 375 Points After Key Housing Data; Alibaba Slides As CEO Steps Down

The Dow Jones Industrial Average dropped Tuesday after key housing data. Chinese e-commerce giant Alibaba slid after the CEO stepped down.

Investors Business Daily

Alibaba CEO Zhang to Step Down and Lead Cloud-Unit Spinoff; Stock Slides

Alibaba Chairman and CEO Daniel Zhang will leave his dual role in September to focus on running the group's soon-to-be separated cloud division.

The Street

Stocks Lower On China Rate Cut, Week Ahead Housing Focus, Alibaba CEO Shake-Up, Intel Ramp, FedEx Earnings - 5 Things To Know

Stock futures lower as China rate cut adds to global market worries; Week Ahead: housing data, earnings wrap-up; Alibaba slides as CEO steps down to run separated cloud business; Intel unveils biggest-ever foreign investment in Germany with $33 billion plant and FedEx earnings on deck with cost cuts, demand forecast…

The Street

Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle

China’s Alibaba Group has announced a major management reshuffle as the e-commerce giant restructures into six different business divisions to adapt to fast-changing technologies

The Independent UK

Chinese billionaire Jack Ma teaches first class at University of Tokyo as top exec at his tech empire insists he’s ‘alive’ and ‘happy’

The Alibaba cofounder has largely disappeared from public view since criticizing Chinese regulators in 2020.

Fortune

Consumption soft even amid deep discounts during major China shopping festival, analysts say

Chinese consumers have been snapping up billions worth of items in China’s first major online shopping festival after emerging from the pandemic as merchants slash prices, but analysts say that consumer confidence still remains weak as China re-emerges from the pandemic

The Independent UK

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Tom’s Hardware

China's ByteDance Has Gobbled Up $1 Billion of Nvidia GPUs for AI This Year

China's ByteDance has already ordered around 100,000 Nvidia datacenter accelerators in 2023 — more than the entire Chinese market ordered last year.

Barchart

Chinese E-Commerce Companies Undercut by Weak Chinese Economy and Increased Competition

The faltering recovery in China has spurred investors to raise their bearish wagers on Chinese e-commerce stocks. For example, short interest in PDD Holdings (PDD ) has risen to about 8% of total shares outstanding, according to IHS Markit data. That’s higher than e-commerce peers JD.com (JD ) and Alibaba...

StockNews.com

Is Alibaba (BABA) a Good Buy?

Over the last two years, the e-commerce giant Alibaba (BABA) was hit by heavy regulatory scrutiny, brutal competition, and China’s slowing economy. But the stock got a lift this year after the nation’s Covid reopening and easing of regulatory woes. Furthermore, the company announced a restructuring plan designed to enhance…

Caixin Global

Weekly Must-Read: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector

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The Guardian - UK

‘We in the west were blinded’: China crackdown on business has Maoist roots

‘Anti-spying’ raids on consulting firms and attacks on tech companies are being driven by party ideology, says academic Chris Marquis

Investors Business Daily

Stock Market Rally Hits 2023 Highs As Big Techs Lead; Tesla, Walmart, On Holding In Focus: Weekly Review

The Nasdaq and S&P 500 hit 2023 highs, fueled by AI-led chips and software names. But market leadership remains narrow.

TechRadar

Alibaba is pulling out of the cloud business

Chinese ecommerce giant Alibaba set to split into six units and selling off some of its businesses.

Evening Standard

FTSE 100 Live: Flat week as FTSE closes at 7757; Tesco chair to step down; US shares down on default fears

The FTSE 100 index found positive territory today despite Hong Kong shares falling after Alibaba sales came in below expectations.

The Independent UK

Alibaba approves cloud computing unit spin-off, prepares for grocery and logistics arms to go public

Chinese e-commerce company Alibaba Group Holding on Thursday said that it plans to spin-off of its cloud computing unit and that its logistics and grocery units would begin exploring initial public offerings, as the e-commerce firm kickstarts a restructuring process of its businesses aimed at spurring growth

AFP

SoftBank Group logs $7.2 billion full-year loss on tech woes

Tokyo (AFP) - SoftBank Group reported an annual net loss of over $7.2 billion on Thursday after a bruising year for the tech startup sector in which it is heavily invested.

Tom’s Hardware

Chinese Firms Foil US AI Sanctions With Older GPUs, Software Tweaks

Chinese AI developers simplify software and use all compute chips they can get to train large-scale AI models.

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