Tag: E-Commerce Discretionary

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.

Amazon announced Monday its millionth worker robot, and said its entire fleet will be powered by a newly launched generative artificial intelligence model. The move comes at a time when more tech companies are cutting jobs and warning of automation.

Amazon will invest £40 billion ($54 billion) in the U.K. over the next three years, the e-commerce titan announced Tuesday.

Alibaba on Monday said it will merge its food delivery platform Ele.me and online travel agency Fliggy into its core e-commerce business as the Chinese group streamlines operations amid intensifying competition.

Amazon (AMZN.O), asked Europe’s second-highest court on Thursday to scrap its designation as a platform subject to stricter requirements under landmark EU online content rules, arguing that it poses no systematic risks to its users.

Temu and Shein are pivoting to Europe as their business in the U.S. takes a major hit from unfavorable trade policies. But the China-founded budget e-commerce apps may not receive a warm reception in their new target markets.

Amazon Web Services (AWS), the cloud division of US tech giant Amazon.com, unveiled on Friday an investment of over $5bn to open a new AWS region in Taiwan.

Use of low-cost e-commerce giants Temu and Shein has slowed significantly in the key U.S. market amid President Donald Trump’s tariffs on Chinese imports and the closure of the de minimis loophole, new data shows.

Chinese e-commerce firm PDD Holdings (PDD) missed Wall Street estimates for first-quarter revenue on Tuesday, as its domestic platform suffered from persistently weak consumer sentiment and its international business was hit by global trade uncertainty.