Tag: E-Commerce Discretionary

Alibaba Group said in a surprise announcement Tuesday Eddie Wu will succeed Daniel Zhang as its chief executive, a move that will free Zhang to focus on the company’s cloud intelligence business.

Alibaba on Thursday began rolling out its ChatGPT-style technology as Chinese tech giants look to take a lead in the country’s artificial intelligence race.

As famed money manager Michael Burry made headlines boosting bullish bets on stocks including Alibaba Group Holding Ltd. in the first quarter of this year, other top hedge funds were also piling in.

PDD Holdings Inc beat analysts’ estimates for first-quarter revenue on Friday as more price conscious customers turned to its discount e-commerce platforms including Pinduoduo.

Alibaba announced plans to spin off its cloud division as a separate, publicly-traded company, while the e-commerce titan’s quarterly revenues missed expectations.

Amazon ’s cloud computing unit plans to invest $12.7 billion in India by 2030 to meet growing demand for cloud services in the world’s most populous country, the company announced Thursday.

Shares in JD.com JD were rising on Thursday after the Chinese e-commerce company beat earnings expectations. It also said its chief executive is leaving.