ByteDance’s profit surged roughly 60 per cent in 2023, outpacing the growth of online peers Tencent Holdings and Alibaba Group Holding, in a sign of the TikTok owner’s resilience in the face of an economic downturn. Earnings before interest, tax, depreciation and amortisation jumped to more than US$40 billion from about US$25 billion in 2022, … Read more
By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory scrutiny and fierce competition from old and new rivals. The … Read more
The hi-tech manufacturing hub of Suzhou has unveiled a plan to double the city’s cross-border e-commerce annually for the next three years, as it looks to tap into the growing influence of Chinese platforms such as Shein and PPD Holdings’ Temu. The municipal government of the city in eastern Jiangsu province has issued a policy … Read more
China last year bred an average of one new unicorn each week amid frenzied growth in the country’s artificial intelligence (AI) sector, bucking a declining trend in global venture capital investments, according to a new research report. The nation added 56 unicorns – start-ups valued at more than US$1 billion – in 2023, trailing only … Read more
Alibaba Group Holding has fundamentally changed its corporate culture to put customers first in its adaptation of technology, its co-founder Jack Ma wrote, as he stepped into a social media hubbub over the hubris that caused what was once the world’s largest e-commerce platform to lose ground to competitors. “We hacked away at the big-company … Read more
Alibaba Group Holding is integrating the services of its online wholesale marketplace 1688 with its flagship consumer shopping platform Taobao, as the e-commerce giant continues to consolidate assets amid internal restructuring and rising competition. Taobao has recently featured three online stores under the 1688 name as it pushes to win over new users, according to … Read more
At a time when the global euphoria about AI has propelled a three-fold surge in Nvidia’s stock, investors are pointing toward emerging markets for better value and a bigger pool of options. Read original article here Denial of responsibility! Pioneer Newz is an automatic aggregator of the all world’s media. In each content, the hyperlink … Read more
Beijing-based ByteDance’s website listed more than 320 GenAI-related job openings as of Tuesday, up from 307 vacancies posted a month earlier, according to a search conducted by the South China Morning Post. A specific search for jobs in the development of large language models (LLMs) – the technology used to train ChatGPT and similar GenAI … Read more
“China is somewhat behind, obviously,” Tsai said, citing how ChatGPT creator OpenAI has leapfrogged the rest of the tech industry in AI innovation, in a podcast interview published on Wednesday with Nicolai Tangen, chief executive of Norges Bank Investment Management – the branch of Norway’s central bank that is responsible for managing the world’s largest … Read more
Chinese financial technology giant Ant Group is looking to “significantly” expand the global presence of its cross-border mobile payment service Alipay+, as the company pursues an organisational overhaul that includes a spin-off of its international arm. Ant International aims to considerably boost the number of partner wallets supported by Alipay+ this year, possibly by more … Read more
