Tag: E-Commerce Discretionary

Alibaba Group Holding Ltd’s Qwen app drew more than 10 million downloads in the week after its relaunch, boding well for a longer-term effort to build a rival to OpenAI’s ChatGPT.

China’s PDD Holdings (PDD.O), beat forecasts on Tuesday with a 14% rise in third-quarter adjusted earnings in a sign the e-commerce group’s steep discounts and heavy marketing spending bolstered demand in its home market.

Alibaba is helping the Chinese military to target the U.S., according to a White House memo, the Financial Times reported Friday.

Brussels wants to accelerate the imposition of customs duties on low-value parcels entering the European Union in a bid to crack down on cheap Chinese e-commerce imports such as from Shein and Temu, Trade Commissioner Maros Sefcovic has said.

JD.com reported a sharply lower profit for its third quarter on Thursday. However, shares rose as the Chinese online retailer’s earnings and revenue were ahead of market expectations with the company signaling it will need to invest less in food delivery in future.

China’s Singles’ Day sales festival is coming to a close after more than a month of promotions on the country’s largest e-commerce platforms, which failed to spark widespread consumer excitement during the world’s largest shopping event.

Shopify (SHOP.TO) projected strong fourth-quarter revenue growth on Tuesday, signaling resilient demand at the e-commerce company as retailers gear up for the all-important holiday shopping season.

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.