Alibaba Group is selling its video game division, Lingxi Games, to Trustar Capital for over $1.5 billion as part of a strategic shift to prioritize artificial intelligence and cloud computing. This move aligns with CEO Eddie Wu's plan to shed non-core assets and boost AI development, following the launch of Alibaba's largest AI model. The company aims to reach $100 billion in AI revenue within five years, signaling a strong focus on competing with Western tech firms. Lingxi Games is known for the popular online strategy game Three Kingdoms: Strategy Edition.
Next week, key retail earnings from Walmart, Target, and Home Depot will provide insights into the health of the U.S. consumer amid high borrowing costs and a slow housing market. Home Depot's report will highlight home improvement demand, Target's w...
Apple has collaborated with Alibaba Group to develop and train a proprietary artificial intelligence model specifically for the Chinese market. This partnership allows Apple to launch its Apple Intelligence AI tools in China within months, marking it...
