Alibaba Group Holding Tag

06 Mar Alibaba said to lead new financing round for Chinese AI firm MiniMax that would value the start-up at over US$2 billion

Posted at 00:00h in Asia

Shanghai-based MiniMax, which was founded in 2021, is in the process of raising new funding that would value the company at more than US$2 billion, another investor with knowledge of the matter said. The two investors requested anonymity because they are not authorised to speak...

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05 Mar Alibaba tests generative AI tools for Taobao and Tmall merchants as new tech arms race heats up China’s e-commerce sector

Posted at 13:00h in Asia

The generative AI tools provided by Huiwa, operated by Alibaba subsidiary Hangzhou Lianfan Information Technology, enable merchants to create both text and graphics content. Alibaba owns the South China Morning Post.A merchant, for example, can input a brief description of a product, which prompts the...

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04 Mar Chinese tech hub Shenzhen to expedite adoption of apps built on Huawei’s HarmonyOS across various industries in 2024

Posted at 11:00h in Asia

The Shenzhen municipal government intends to boost the number of its native apps built on HarmonyOS and push for their adoption across several major sectors, according to a 2024 action plan published on Sunday by the city’s Industry and Information Technology Bureau.Under that initiative, HarmonyOS-based...

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29 Feb Alibaba’s cloud computing unit cuts prices on 100 core products in China to capture more users involved in AI development projects

Posted at 11:00h in Asia

Alibaba Group Holding’s cloud computing unit has cut prices by up to 55 per cent on more than 100 core products – the largest discount offering in the company’s history – to attract more enterprises and software developers as users in mainland China, as the...

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28 Feb Alibaba’s South Asian e-commerce unit Daraz to conduct new round of lay-offs

Posted at 09:00h in Asia

“Reluctantly, we will bid farewell to many valued members of the Daraz family,” acting chief executive James Dong said in an internal memo published on the company’s website on Tuesday. Alibaba, owner of the South China Morning Post, acquired Daraz in 2018.“Despite our efforts to...

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20 Feb Chinese start-up Moonshot AI raises US$1 billion in funding round led by Alibaba and VC HongShan amid strong interest for OpenAI-type firms

Posted at 12:30h in Asia

The start-up in October launched smart chatbot Kimi Chat, built on its self-developed Moonshot large language model (LLM), which can process as many as 200,000 Chinese characters in a context window – referring to the swathe of text that an AI model can process during...

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07 Feb Alibaba misses earnings estimates in December quarter amid challenging economy, increased competition

Posted at 12:11h in Asia

Alibaba misses earnings estimates in December quarter amid challenging economy, increased competitionChinese e-commerce giant Alibaba Group Holding reported lower-than-expected financial results in the December quarter, as the Hangzhou-based company grappled with challenging economic conditions and growing competition from new entrants in the...

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17 Jan China’s internet giants must step up opening their ‘walled gardens’, state media says, ahead of Tencent flagship game’s return to Douyin

Posted at 10:00h in Asia

“In the future, internet companies need to be more open-minded and inclusive to promote truly win-win cooperation in the industry,” the Securities Times article said.Increased collaboration between China’s major internet companies are expected to not only benefit consumers, but help further expand the industry, according...

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15 Jan Why a Chinese court’s landmark decision recognising the copyright for an AI-generated image benefits creators in this nascent field

Posted at 11:30h in Asia

A Chinese court’s decision recognising the copyright of an image generated via artificial intelligence (AI) aims to encourage such creations and provide a boost to this nascent industry, according to the judge who made the landmark ruling. In the first judgment of its kind...

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15 Jan Alibaba, TikTok woo US with AI and live-streaming e-commerce at CES trade show, setting the tone for 2024

Posted at 10:00h in Asia

“With advances in AI, we are ushering in the next generation of sourcing and empowering small businesses to succeed with our Smart Assistant at their side,” Chris Lu, general manager at Alibaba.com North America, said in a statement last week.The Alibaba.com booth features the e-commerce...

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