Tag: $Alibaba Group Holding Ltd.

GoTo Group, Tencent Holdings and Alibaba’s Cloud division have signed agreements to strengthen cloud infrastructure and digital talent development in Indonesia.

Alibaba on Thursday released more than 100 open-source artificial intelligence models and boosted the capabilities of its proprietary technology as it looks to ramp up competition with rivals.

Alibaba has completed a three-year regulatory “rectification” process following an antitrust fine it received on charges of monopolistic practices in 2021, China’s market regulator said on Friday.

Alibaba missed top and bottom line expectations for the June quarter of 2024 as it continues to face headwinds in its core e-commerce business amid rising competition and a cautious Chinese consumer.

Alibaba stock was climbing early Monday after reports that the Chinese internet retailer was set to raise fees.

Alibaba Group Holding said it is seeing “encouraging” user engagement and merchant growth during the 618 midyear online shopping festival, as rival Xiaohongshu, China’s answer to Instagram, said its online sales have tripled from a year ago.

Hong Kong-listed shares of Alibaba fell over 5% Thursday following a report that the Chinese tech giant is considering selling convertible bonds to raise $5 billion.

Alibaba stock dropped on Tuesday after the Chinese e-commerce company reported March quarter earnings below Wall Street’s estimates, though revenue was above expectations.

Alibaba co-founder Jack Ma has penned a lengthy memo to employees that expresses support for the internet giant’s restructuring efforts, a rare move from the billionaire after spending the last few years out of the spotlight.

China’s Alibaba Cloud on Monday said it will cut prices for products that are powered by its offshore data centers by as much as 59% amid rising competition to attract artificial intelligence software developers.

Chinese e-commerce company previously planned multiple spinoffs of business units in an attempt to unlock greater value for shareholders.

Alibaba Cloud on Thursday said it is cutting prices across more than 100 core public cloud products to make cloud computing more accessible in the AI boom.

Alibaba stock rose then fell on Wednesday after the Chinese tech giant narrowly missed Wall Street’s quarterly earnings expectations but announced that it was increasing its share buyback program.

Chinese internet giant Alibaba Group is looking to sell a number of consumer sector assets, including grocery business Freshippo and retailer RT-Mart, three sources with knowledge of the situation said.

Chinese stocks slumped on Monday after the country’s central bank left interest rates unchanged, a decision that does little to inspire confidence among investors worried about a slowdown in the world’s second-largest economy.

Employees across all Southeast Asia markets from all levels are affected by the layoffs, according to the person who declined to be named due to the sensitive nature of the subject.

Chinese online retailer JD.com said on Friday that it won a lawsuit against rival Alibaba which was fined 1 billion yuan ($140.68 million) for monopolistic practices.

Alibaba Group CEO Eddie Wu is taking over the top role at the company’s Taobao and Tmall e-commerce business, replacing Trudy Dai in the Chinese internet tech giant’s latest management shakeup this year.

Alibaba shares fell more than 1.3% in pre-market Friday trade after Morgan Stanley analysts downgraded shares to Equal Weight from Overweight with a price target cut by $20 to $90 per share.

Alibaba Group Holding Ltd. is taking the first steps toward revamping its cloud business by overhauling its leadership, aiming to revive growth and ride an AI boom after canceling a much-anticipated spinoff of the $11 billion unit.