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Joe Tsai: BABA-W Committed to Re-establishing Tech Leadership in CN
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BABA-W (09988.HK) (BABA.US) Chairman Joseph Tsai recently stated at a conference in Paris that the group is committed to re-establishing its leadership position in China's technology sector, with AI and cloud infrastructure as its strategic pillars. Upon returning to a leadership role in mid-2023, he acknowledged Alibaba's past mistakes, noting that the company had somewhat lost its direction and expanded excessively. This year, DeepSeek launched a new low-cost powerful AI inference model, catching major competitors off guard. Tsai remarked, after reading related research papers, DeepSeek’s rise prompted an accelerated response within Alibaba. He noted that the group's engineers canceled their holidays, stayed at the company during the Spring Festival, slept in the office, and continued working to catch up. Within weeks, they launched their own version of the Qwen series models. The group committed to investing over RMB38 billion in the next three years to expand its AI infrastructure and raise training and inference capabilities related to Alibaba Cloud. AASTOCKS Financial News Website: www.aastocks.com |
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