Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»China’s Alibaba sees revenue surge on back of artificial intelligence, e-commerce
Finance

China’s Alibaba sees revenue surge on back of artificial intelligence, e-commerce

February 20, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
China's Alibaba sees revenue surge on back of artificial intelligence, e-commerce
Share
Facebook Twitter LinkedIn Pinterest Email

HONG KONG (AP) — Chinese language e-commerce agency Alibaba Group Holding posted its quickest income progress in additional than a 12 months, beating analyst expectations because it capitalizes on the substitute intelligence growth in China.

Alibaba stated Thursday that its income for the quarter ended December grew 8% to 280.2 billion yuan ($38.38 billion) in comparison with the identical interval final 12 months.

Internet revenue surged to 48.9 billion yuan ($6.71 billion). Alibaba’s New York-traded inventory was up over 12% following the earnings outcomes.

In an earnings name, Alibaba CEO Eddie Wu stated that Alibaba plans to “aggressively make investments” in synthetic intelligence and cloud computing infrastructure within the coming three years, with upcoming spending anticipated to exceed what the agency has already invested over the previous decade.

“This quarter’s outcomes demonstrated substantial progress in our ‘consumer first, AI-driven’ methods and the re-accelerated progress of our core companies,” Wu stated.

He stated that Alibaba’s synthetic intelligence technique was to pursue synthetic basic intelligence (AGI), which is synthetic intelligence that may match or surpass human intelligence and might self-teach.

He added that such a possibility for trade transformation is one thing that comes alongside “as soon as each a number of a long time” and stated that AGI was Alibaba’s major objective.

Alibaba’s plan to go massive on synthetic intelligence comes as rivalry within the AI area heats up between U.S. and China. Chinese language AI agency DeepSeek just lately rattled the U.S. AI trade after its AI mannequin appeared to rival these of main U.S. corporations whereas being skilled on cheaper {hardware}.

The Hangzhou-headquartered agency is one in every of many know-how companies in China who’re racing to get forward within the AI area. In January, it unveiled its newest Qwen AI fashions which have carried out effectively in benchmark checks, inserting Alibaba among the many main corporations in China’s AI trade.

Alibaba is working with Apple to include its AI know-how into Chinese language iPhones, the agency stated earlier this month.

Alibaba has already carried out AI know-how into its cloud merchandise, with its cloud enterprise unit producing 13% income progress in comparison with the identical time final 12 months – the quickest tempo in about two years.

Its worldwide commerce unit, which incorporates platforms similar to AliExpress and Lazada, noticed income progress of 32% pushed by “sturdy efficiency of cross-border companies.”

Alibaba was one in every of a number of distinguished Chinese language know-how corporations which suffered the brunt of a regulatory crackdown on the know-how trade in 2020, when authorities scuppered the preliminary public providing of its monetary affiliate Ant Group.

The corporate was later fined a file $2.8 billion for violating anti-monopoly legal guidelines. Jack Ma, one in every of Alibaba’s cofounders, disappeared from public view and the corporate’s inventory worth slumped for a number of years.

However Beijing seems to have shifted gears in the direction of the know-how trade because it pursues know-how supremacy and self-sufficiency amid deteriorating U.S.-China relations.

Chinese language President Xi Jinping just lately held a non-public symposium, assembly with distinguished entrepreneurs together with Ma.

The assembly, coupled with DeepSeek’s AI developments, have been among the many elements that sparked renewed curiosity within the Chinese language know-how trade, sending know-how shares hovering in current weeks.

Alibaba’s inventory worth is up greater than 60% this 12 months. Its U.S.-listed shares rose 8.5% in morning buying and selling, to $136.58.

Source link

Alibaba artificial Chinas ecommerce intelligence revenue sees surge
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

French startup Mistral launches chatbot for companies, triples revenue in 100 days

May 9, 2025

3 Magnificent Dividend Stocks Down 19% to 48% I’m Buying Right Now for My Daughter’s Portfolio

May 9, 2025

Sanofi exec tells biotechs not to scrimp on clinical trial design

May 8, 2025

BlackRock to order senior managers back to office five days a week – reports

May 8, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

French startup Mistral launches chatbot for companies, triples revenue in 100 days

May 9, 2025

Imagined in Israel, built in Bengaluru, how SkyStriker suicide drones hit terror targets during Operation Sindoor | Bangalore News

May 9, 2025

Operation Sindoor: India gave executive orders to block over 8k accounts, says X | India News

May 9, 2025

Is that pink slime in your bathroom actually dangerous?

May 9, 2025
Popular Post

Get Microsoft Office 2024 on Amazon without a 365 subscription

Why you should have the greens that FM Nirmala Sitharaman picked up in a Mylapore market

Joe Biden Shifts Walking Routine To Marine One Amid Health Concerns

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.