Tag: $Alibaba Group Holding Ltd.

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.

Alibaba’s stock was down just over 8% in pre-market trading at 7.40 a.m. ET following the news, off earlier lows.

Alibaba on Tuesday launched the latest version of its artificial intelligence model, as the Chinese technology giant looks to compete with U.S. rivals like Amazon and Microsoft.

Alibaba plans to list its logistics unit Cainiao on the Hong Kong Stock Exchange, the company the Chinese e-commerce giant said in a regulatory filing Tuesday.

Alibaba needs to be “user first” and “AI-driven,” new CEO Eddie Wu told employees on Tuesday, as he laid out the strategic priorities for the Chinese tech giant.

Shares of Chinese tech giant Alibaba fell 3.5% on Monday, after the company said in a surprise move that outgoing CEO Daniel Zhang will also be stepping down as chairman and CEO of its cloud business.

A gloomy economic backdrop has weighed on Alibaba and other Chinese stocks, with grim factory data Thursday continuing the trend. But there is reason for hope, because the latest release wasn’t as bad as expected and there are other glimmers of resilience.

Alibaba launched on Friday two new artificial intelligence models — Qwen-VL and Qwen-VL-Chat — the company says can understand images and carry out more complex conversations.

China’s Alibaba Group Holding reported its strongest quarterly revenue growth in almost two years on Thursday, boosted by a mid-year shopping festival that attracted bargain hunting consumers amid a sober economic environment.

Alibaba ’s cloud unit is bringing Meta Platform’s open-source artificial intelligence model to its clients, in a significant moment for the global AI race.

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U.S.-listed Chinese stocks rose on Tuesday on hopes that authorities’ three-year crackdown on technology companies is coming to a close.

Alibaba’s Hong Kong-listed shares rose 3% Monday amid hopes that the yearslong scrutiny of its financial arm Ant Group is coming to an end.

Chinese technology giant Alibaba on Friday launched Tongyi Wanxiang, an artificial intelligence tool that can generate images from prompts.