Alibaba Group Holding is reducing its metaverse operations, becoming the latest major tech player to re-evaluate its commitment to the sector. According to sources, dozens of employees from Alibaba’s metaverse unit, Yuanjing, have been laid off as part of a restructuring process aimed at boosting organizational efficiency. Yuanjing, which operates in Shanghai and Hangzhou, previously...
Apple sees iPhone 16 prices slashed by up to 1,600 yuan (US$225) at its online store on Alibaba Group Holding’s Tmall platform, as the US tech giant looks to boost sales on Singles’ Day, the world’s biggest shopping festival, amid stiff competition in China.Under its Singles’ Day promotion, Apple’s Tmall store started offering a 500-yuan...
Alibaba Dual-Primary Listing Boosts Investor Access Introduction to Alibaba’s Dual-Primary Listing Alibaba Group Holding will switch its listing status in Hong Kong to a dual-primary listing. This strategic move allows mainland China’s 220 million stock investors to invest in the tech giant’s shares. Starting August 28, 2024, Alibaba’s shares will be available through the Stock...
Alibaba Group Holding is making significant strides in the field of artificial intelligence (AI) video generation with its latest project, Tora. This innovative video-generating tool, representing Tora video generation Alibaba AI innovation, is based on OpenAI’s Sora model and showcases the Chinese tech giant’s ongoing efforts to develop advanced video AI tools. Tora is described...
Chinese tech giant Alibaba is injecting $640 million (HK$5 billion) into Hong Kong’s entertainment industry over the next five years, aiming to reignite the territory’s cultural and film scene. This significant investment goes beyond just cash. Alibaba’s digital media and entertainment arm is spearheading the initiative, allocating funds to support Hong Kong-produced television dramas, movies,...
Tech companies in China are actively collecting resources and skilled individuals in order to close the gap with OpenAI. Interestingly, researchers on both sides of the Pacific Ocean share similar experiences. A recent post from an Alibaba researcher provides a unique insight into the process of building Large Language Models at the e-commerce company. This...
Moonshot AI, a rising star in the Chinese artificial intelligence (AI) scene, has just closed a massive $1 billion funding round. This marks a significant development in the ongoing competition between AI research outfits, particularly in the wake of OpenAI’s impressive advancements. The funding round was led by e-commerce giant Alibaba and venture capital firm...