Browsing: Alibaba

Aug 24 (Reuters) – Alibaba shares fell 8% in early Hong Kong trade on Monday after the tech ‌company finalised a HK$80 billion ($10.21 billion) share placement ‌at HK$112.70 apiece, in a deal aimed at funding artificial intelligence-related development.

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It fell well short of analyst profitability estimates, although its revenue was essentially in line.

China’s Alibaba reports a 75% drop in profit for the latest quarter from the year before to roughly $1.6 billion as it invests heavily in AI infrastructure

Add to Google Preferred Sources Alibaba announced a sweeping business reorganization alongside its fiscal Q1 2027 earnings release: China E-Commerce Group, Alibaba International Digital Commerce Group, and Hema will merge into a unified Alibaba E-Commerce Group; Cloud Intelligence Group and chip designer T-Head will combine into AI Cloud and Computing Services; and the AI model…

Alibaba Group Holding Ltd launched the beta version of an artificial intelligence (AI) music-generation model that can turn a single text prompt into a fully produced song, expanding the Chinese technology giant’s push into generative AI.

Alibaba Group (NYSE:BABA), the Chinese e-commerce group, has agreed to sell its video game division to Trustar Capital, the Asian private equity firm, in a transaction that Bloomberg News reported may value the unit at more than $1.5 billion.