Tag: E-Commerce Discretionary

OpenAI has signed a deal to buy $38 billion worth of capacity from Amazon Web Services, its first contract with the leader in cloud infrastructure and the latest sign that the $500 billion artificial intelligence startup is no longer reliant on Microsoft.

Amazon AMZN reported better-than-expected earnings results, sending its shares heading for a new record high.

Amazon said Tuesday that it will lay off about 14,000 corporate employees, marking the latest cuts in the company’s multiyear effort to rein in costs.

Chinese tech giant Alibaba is already recouping its investment on artificial intelligence in the company’s e-commerce business, vice president Kaifu Zhang told reporters on Thursday.

Online fast-fashion retailer Shein plans to open its first bricks-and-mortar shops in France in November under an agreement with department store owner Société des Grands Magasins, a move that sparked criticism from French retailers.

Alibaba shares soared in Hong Kong and U.S. premarket trading on Wednesday after the company said it will invest more in artificial intelligence and rolled out new AI products and updates.

Alibaba shares rose on Wednesday after Chinese state media reported that the e-commerce giant secured a major customer for its artificial intelligence chips.

 British supermarket group Sainsbury’s (SBRY.L), said on Sunday it has terminated talks with Chinese e-commerce giant JD.com (9618.HK), over selling the Argos general merchandise retailer, a day after confirming discussions were underway.

Alibaba (BABA) stock was rising on Thursday after the Chinese e-commerce giant said it would seek to raise $3.2 billion by issuing a convertible bond, yet another indication that it’s doubling down on artificial intelligence.

As the race for household robots heats up, Chinese humanoid startup X Square Robot announced Monday it had secured around $100 million in a funding round led by Alibaba Cloud.

Alibaba (9988.HK), ByteDance and other Chinese tech firms remain keen on Nvidia’s (NVDA.O), artificial intelligence chips despite regulators in Beijing strongly discouraging them from such purchases, four people with knowledge of procurement discussions said.

Alibaba posted a better-than-expected bottom line in the June quarter fueled by accelerated sales at its cloud computing unit and a continued revival of its e-commerce business.

PDD Holdings(PDD) stock jumped after the parent company of retailer Temu reported quarterly earnings way ahead of expectations early Monday, easing worries about the negative impact from U.S. tariffs.

 Amazon (AMZN.O), is plotting a big change to its Fire tablet lineup following years of escalating gripes from consumers and app developers over the company’s homegrown operating system.

Hertz Global Holdings (NASDAQ:HTZ) stock surged 12% Wednesday morning while Carvana (NYSE:CVNA) shares fell 5.5% following news that Hertz will begin selling its pre-owned vehicles through Amazon’s (NASDAQ:AMZN) online auto marketplace.

Shein’s U.K. arm generated £2.05 billion ($2.77 billion) in sales in 2024, up 32.3% from 2023, according to a filing released on Friday.

Shopify (NASDAQ:SHOP) shares rallied 18% in premarket trading on Wednesday after the company posted better-than-expected results for the second quarter and offered a bright revenue growth outlook for the current quarter.

Amazon.com shares tumbled 8% on Friday, as the tech giant’s results fanned investor fears its cloud unit was falling behind Microsoft and Alphabet in the artificial intelligence race.

Alibaba on Monday unveiled a pair of smart glasses powered by its artificial intelligence models, marking the Chinese firm’s first foray into the product category.

Anthropic on Tuesday announced Claude tools for financial services as part of the artificial intelligence startup’s latest attempt to court enterprise customers.