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Alibabai

Alibaba is China's largest e-commerce company, with holdings in a wide portfolio of businesses from logistics, cloud services and finance to media. The company provides business-to-business, business-to-consumer and other services through platforms including Alibaba.com, Tmall, and Taobao. Alibaba is the owner of the South China Morning Post. It was co-founded by Jack Ma, who retired as chairman in 2019 but is still a major shareholder.

 

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The major developers of large language models are claiming significant performance improvements and greater adoption at China’s biggest annual AI conference.

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Speaking at the World Artificial Intelligence Conference in Shanghai, Baidu CEO Robin Li said companies are wasting computing power on models not yet benefiting other industries.

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Chinese tech experts discussed how large language models can shape businesses at the annual event held by Luohan Academy, the open research institute initiated by Alibaba.

With on-demand delivery the latest front in China’s e-commerce war, Taobao is using Alibaba’s Ele.me and Freshippo to expand its offerings in the category.

The World Artificial Intelligence Conference in Shanghai will feature innovations that could help China narrow the gap with the United States in the technology’s development.

Sentiment appears to be stabilising after the recent consolidation, analysts say. Strong southbound buying, which has already topped the total inflow for the whole of 2023, continues to support the market.

A shareholder restructuring for OceanBase, which develops the database tech behind Alipay, gives 35 companies a stake, paving the way to a possible public listing

The deal values Singapore-based Synagistics, which provides digital commerce services, at HK$3.5 billion (US$448 million), according to an exchange filing.

Zhihu has joined the ranks of Chinese technology companies that have enhanced their online services via the power of generative artificial intelligence.

The tech giants is partnering with MiniMax, Moonshot AI, Orionstar, Baichuan, Zhipu AI and 01.AI to develop new functions on its popular office app.

OpenAI’s ban on Chinese access to its service is set to contribute to the growth of the Chinese AI sector rather than hinder its progress, industry experts said.

E-commerce firms including Alibaba and JD.com saw GMV rise during the midyear event, but merchants face declining profits amid a platform price war.

Alibaba’s cloud unit has introduced its first ‘AI programmer’ powered by the company’s own large language model, as the tech giant explores monetisation.

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‘Macro indicators which are showing early indication of a stabilisation’ have driven a rally, according to a JPMorgan analyst known for his bearish stance.

Alibaba and JD.com touted impressive growth trends but declined to reveal total GMV figures for their midyear 618 shopping festival, as competition heats up and consumers grow weary of too many promotions.

Shen’s departure comes after venture capital firm HongShan had been gradually cutting its stake in Meituan since China’s food delivery services giant debuted in Hong Kong in 2018.