Alibaba splits itself into six separate companies
Chinese e-commerce and tech giant Alibaba is splitting itself into six separate companies. According to the e-commerce and tech giant, this split would allow it to respond better to changes in the market. It should also enable the companies to innovate independently faster in their respective marke... Read more
Alibaba founder Jack Ma will cede control of Ant Group
The move aims to keep Ma from being targeted by the government in Beijing.
In a filing this week, Alibaba announced that Ma “intends to reduce and thereafter limit his direct and indirect economic interest in Ant Group over time” to a percentage that does not exceed 8.8 percent. Ma currently... Read more
Alibaba will produce its own AI chips
Alibaba plans to create hardware as well. In order to do so, it is working on a subsidiary that is engaged in the manufacture of chips. The aim is to launch an AI chip in the second half of 2019 that can be used in autonomous vehicles, smart cities and the logistics sector.
Last Wednesday, the Chine... Read more