Alibaba Group Holding‘s online shopping app Taobao has made its one-hour delivery service hotkey on the platform’s homepage, as the tech giant tries to stake out a larger position in the on-demand delivery market amid competition with JD.com and ByteDance‘s Douyin. The 4-year-old service now has its own tab accessible from the Taobao homepage as […]
Alibaba.com, a business-to-business (B2B) cross-border e-commerce platform owned by Alibaba Group Holding, is projecting US$60 billion in gross merchandise value (GMV) for 2024, which would be a 20 per cent increase over the US$50 billion last year, the platform’s president Zhang Kuo said. The sourcing platform’s turnover growth slowed after a sevenfold increase in GMV […]
Alibaba Group Holding is selling up to US$5 billion worth of convertible bonds to fund its share buy-backs, as leaders of the Chinese tech giant declared e-commerce and cloud computing as its core businesses in a move “towards strategic clarity”. The Hangzhou-based firm, which owns the South China Morning Post, said it expects to raise […]
HONG KONG (AP) — Chinese e-commerce company Alibaba Group Holding on Tuesday posted a greater-than-expected decline in profit for the fourth quarter due to its equity investments, sending its stock price plunging in New York. Its net income for the quarter ended March was 3.3 billion yuan ($453 million), down 86% compared to the same […]
Alibaba Cloud’s Yitian 710 processor is the most efficient Arm-based server processor for database tasks in hyperscale cloud environments around today, new research has claimed. A recent study published in the Transactions on Cloud Computing journal by IEEE found the 128-core  processor, developed in 2021, not only trumps rival Arm-based chips, but is reported to […]
Alibaba’s New AI Model Claims to Beat OpenAI’s GPT-4 in Language Skills On Thursday, Alibaba Group Holding Limited (NYSE:BABA) Alibaba Cloud announced the release of the latest version of its large language model, which has already seen more than 90,000 deployments by companies. Jingren Zhou, the chief technology officer of Alibaba Cloud, expressed enthusiasm about working with […]
(Bloomberg) — Jack Ma took to an internal Alibaba forum to voice his support for a company undergoing a turbulent restructuring, emerging from seclusion for the second time in months to try and shore up sagging morale at the Chinese e-commerce pioneer he co-created. Most Read from Bloomberg The billionaire, who had retreated from the […]
Once a giant in the Chinese technology industry, Alibaba Group (NYSE: BABA) has fallen from grace in recent years. It faced numerous challenges, such as competition and the crackdown by the Chinese government, which impacted its performance. And after the conglomerate delivered its weakest growth — 2% — in the last fiscal year, investors aren’t […]
(Bloomberg) — Investors looking for an end to the freefall in shares of Chinese e-commerce company Alibaba Group Holding Ltd. may be in for a long wait, if options traders are correct. Most Read from Bloomberg The stock’s nearly 80% tumble from a 2020 record high has driven its valuation to an all-time low and […]
Japanese investment holding firm SoftBank Group Corp has largely cleared its ownership in e-commerce giant Alibaba Group Holding, concluding one of the most successful deals in China’s internet industry and a holding that spanned about 23 years. SoftBank, which invested US$20 million into Alibaba when it was still a start-up in 2000, said in a […]
Jack Ma and Joe Tsai, the co-founders of Alibaba Group Holding, have emerged as the two largest shareholders of the e-commerce giant they founded in 1999, by aggressively scooping up its tumbling shares in New York and Hong Kong. Ma, who retired as Alibaba’s executive chairman in 2019, bought about US$50 million of stock in […]
(Bloomberg) — Ryan Cohen was like a Warren Buffett of the meme-stock frenzy, inspiring a small army of day traders seeking to pocket big gains by piggybacking on his bets on struggling retailers. Most Read from Bloomberg It hasn’t been a winning strategy recently. Alibaba Group Holding Ltd.’s stock has fallen some 40% since the […]