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The Latest Breaking News from Alibaba

Consumption soft even amid deep discounts during major China shopping festival, analysts say

Chinese consumers have been snapping up billions worth of items in China’s first major online shopping festival after emerging from the pandemic as merchants slash prices, but analysts say that consumer confidence still remains weak as China re-emerges from the pandemic

The Independent UK

China's ByteDance Has Gobbled Up $1 Billion of Nvidia GPUs for AI This Year

China's ByteDance has already ordered around 100,000 Nvidia datacenter accelerators in 2023 — more than the entire Chinese market ordered last year.

Tom’s Hardware

Chinese E-Commerce Companies Undercut by Weak Chinese Economy and Increased Competition

The faltering recovery in China has spurred investors to raise their bearish wagers on Chinese e-commerce stocks. For example, short interest in PDD Holdings (PDD ) has risen to about 8% of total shares outstanding, according to IHS Markit data. That’s higher than e-commerce peers JD.com (JD ) and Alibaba...

Barchart

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Is Alibaba (BABA) a Good Buy?

Over the last two years, the e-commerce giant Alibaba (BABA) was hit by heavy regulatory scrutiny, brutal competition, and China’s slowing economy. But the stock got a lift this year after the nation’s Covid reopening and easing of regulatory woes. Furthermore, the company announced a restructuring plan designed to enhance…

StockNews.com

Weekly Must-Read: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector

Caixin Global

‘We in the west were blinded’: China crackdown on business has Maoist roots

‘Anti-spying’ raids on consulting firms and attacks on tech companies are being driven by party ideology, says academic Chris Marquis

The Guardian - UK

Stock Market Rally Hits 2023 Highs As Big Techs Lead; Tesla, Walmart, On Holding In Focus: Weekly Review

The Nasdaq and S&P 500 hit 2023 highs, fueled by AI-led chips and software names. But market leadership remains narrow.

Investors Business Daily

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Alibaba is pulling out of the cloud business

Chinese ecommerce giant Alibaba set to split into six units and selling off some of its businesses.

TechRadar

FTSE 100 Live: Flat week as FTSE closes at 7757; Tesco chair to step down; US shares down on default fears

The FTSE 100 index found positive territory today despite Hong Kong shares falling after Alibaba sales came in below expectations.

Evening Standard

Alibaba approves cloud computing unit spin-off, prepares for grocery and logistics arms to go public

Chinese e-commerce company Alibaba Group Holding on Thursday said that it plans to spin-off of its cloud computing unit and that its logistics and grocery units would begin exploring initial public offerings, as the e-commerce firm kickstarts a restructuring process of its businesses aimed at spurring growth

The Independent UK

Chinese Firms Foil US AI Sanctions With Older GPUs, Software Tweaks

Chinese AI developers simplify software and use all compute chips they can get to train large-scale AI models.

Tom’s Hardware

Jack Ma returns to public life with professorships

Jack Ma, the face of Chinese entrepreneurship and the founder of Alibaba Group Holding, has assumed professorships in at least four schools outside mainland China, as he keeps an arm's length from the business empire he created.

Bangkok Post

Alibaba's Jack Ma turns up in Japan as college professor

Alibaba Group founder Jack Ma will be a visiting professor at Tokyo College, a research institute run by the prestigious University of Tokyo

The Independent UK

Some Etsy sellers are ripping buyers off charging seven times more for 'fakes'

One Etsy seller had 19 “handmade” items on sale, but six were actually from Asda

Wales Online

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The Independent UK

Some Etsy sellers ‘ripping off’ customers over ‘handmade’ products, Which? says

The watchdog said some sellers were charging up to seven times more than other websites for items falsely presented as ‘handmade’.

Reuters

US official says Chinese cloud companies like Huawei could pose threat

U.S. Commerce Secretary Gina Raimondo said on Wednesday that Chinese cloud computing companies like Huawei Cloud and Alibaba Cloud could pose a threat to U.S. security and vowed to review a request to add them to an export control list.

StockNews.com

3 Chinese Stocks Taking a Hit Amidst Regulatory Crackdowns in China

The regulatory tightening in China, which started in late 2020, intensified in terms of duration and scope. The Chinese government issued antitrust and antimonopoly laws, putting significant pressure on stocks. Hence, investors could consider avoiding fundamentally weak Chinese stocks The9 Limited (NCTY), Recon (RCON), and ZW Data (CNET), which are…

The Independent UK

China wants to gives its AI systems ‘socialist values’ and bans them from criticising country’s leaders

Chinese tech giants Alibaba and Baidu have announced their own versions of ChatGPT

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Caixin Global

Jack Ma Appointed Honorary Professor at the University of Hong Kong

The Alibaba co-founder will focus on conducting research in finance, agriculture and entrepreneurial innovations with the HKU faculty, with no plans for public lectures or speeches, reports say

Investors Business Daily

China Internet Giant Alibaba Emerging From Deep Freeze As Restrictions Ease

Alibaba got good news that China might reduce a $1 billion fine on the company's fintech arm, Ant Group. BABA stock rose then fell.

Barchart

Foreign Investors Remain Wary of China

Investor sentiment toward China was undercut this week after two significant foreign investors in Chinese stocks announced they were liquidating their Chinese holdings. On Wednesday, European internet giant Prosus NV registered more than $4 billion of its stake in China’s Tencent Holdings (TCEHY ) for potential sale in Hong Kong,...

The Street

Stocks Nudge Higher, Fed Minutes, Delta Earnings, Harley-Davidson, Alibaba Stake Sale - Five Things To Know

Stock futures nudge higher with earnings in focus; Fed minutes note recession risk, 'highly uncertain' bank crisis impact; Delta earnings on deck as carriers warn on surging costs; Harley Davidson shares slide as CFO Goetter leaves to join Hasbro and Softbank reportedly preparing to dump major stake in Alibaba.

Dynamite News

Alibaba showcases its ChatGPT-style service

Alibaba showed off its version of the ChatGPT, demonstrating new software that it plans to roll out across all its platforms eventually. Read further on Dynamite News:

The Guardian - UK

As the west tries to limit TikTok’s reach, what about China’s other apps?

With government concerns over national security growing, Beijing’s influence over platforms such as WeChat and Shein could come under scrutiny

France 24

Alibaba unveils chatbot as China tightens rules on AI

Alibaba is the latest tech company to enter the artificial intelligence race, as it unveils its own chatbot, Tongyi Qianwen. But it could face restrictions before even launching, as authorities in Beijing have outlined draft regulations to govern AI, including the stipulation that such platforms will reflect the core values…

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