International Business Machines (NYSE:IBM) stock price surged over 14% to reach an all-time high of £209 ($261) on 30th January as investors welcomed the impressive growth numbers in its Q4 results, especially from its AI segment. The IBM stock price jump is also the biggest one-day percentage gain ever recorded in the company’s history. In … Read more
China’s Hangzhou-based DeepSeek is laying waste to US AI stocks as investors question whether it is necessary to keep spending billions on new-age chips and power supplies for AI development, given that DeepSeek’s R1 AI model was built for a relatively meagre cost of £4.49 million. Most of the “magnificent seven” stocks declined markedly on … Read more
EThamPhoto / Getty Images / EThamPhoto / Getty Images The surge of the generative AI (GenAI) industry has given bad actors in the hackerspace a leg up when it comes to attacking vulnerable entities. Enterprises and organizations have become easier to infiltrate due to the quickly developing technology– however, businesses are also using GenAI more … Read more
Alibaba Cloud on Tuesday announced a partnership with Transsion that will see Tongyi Qianwen power the GenAI features of the Phantom V Fold2, the latest flagship Android 5G smartphone from the Shenzhen-based handset maker’s Tecno brand. Alibaba owns the South China Morning Post. The two firms’ on-device GenAI service makes use of a so-called AI … Read more
Alibaba Cloud, the cloud computing arm of Alibaba Group Holding, has given users of its visual reasoning artificial intelligence (AI) model a new year’s gift by cutting prices up to 85 per cent, as price wars continue to rage in China’s domestic AI services market. The announcement, coming on the last day of 2024, marks … Read more
Shi Yuxiang is eager to find out what the latest artificial intelligence (AI) technology has to offer in video-making. But with OpenAI’s long-awaited Sora video generation tool launching only earlier this month, the 34-year-old entertainment industry professional from Beijing has been experimenting with a wide range of Chinese alternatives. “Whenever there’s a new product release, … Read more
The Hong Kong Monetary Authority has picked 10 banks and four technology partners to test more than a dozen use cases for generative artificial intelligence (GenAI) in the financial services sector. HSBC, Bank of China (Hong Kong) and Standard Chartered will pilot several intelligent applications and systems in a sandbox as part of a plan … Read more
China’s Ministry of Industry and Information Technology (MIIT) on Friday announced the establishment of an “artificial intelligence (AI) standardisation technology committee” that includes executives from tech giants Baidu, Alibaba Group Holding, Tencent Holdings and Huawei Technologies. The committee will be responsible for “making and revising” standards for different AI vertical markets, including assessment and testing, … Read more
The founder of Beijing-based artificial intelligence (AI)-based image recognition firm DeepGlint has stepped down as general manager, as the company grapples with widening losses this year amid fresh competition from generative AI firms. Zhao Yong is stepping back from day-to-day operations but retains his role as chairman, according to a corporate filing from the Shanghai-listed … Read more
Singapore-headquartered Ant International said it has developed an AI model that predicts currency exchange rates on an hourly basis for both inbound and outbound transactions, which would help businesses reduce transaction costs and better allocate resources, the company said in a statement on Thursday. “Integration of AI into the processing of cross-border transactions is of … Read more
