Alibaba

China enlists Alibaba and Tencent in fight against US chip sanctions

China enlists Alibaba and Tencent in fight against US chip sanctions

China has tapped tech giants Alibaba and Tencent to help it design semiconductor chips, as Beijing braces for new US sanctions aimed at suppressing Chinese computing power. The Chinese government has set up a consortium of companies and research institutes, including the Chinese Academy of Sciences, to create new intellectual property on the chips. Beijing …

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Alibaba founder Jack Ma is hiding in Tokyo, reports say

Billionaire Jack Ma is believed to have been hiding in Tokyo with his family during Beijing’s crackdown on the country’s star tech companies and its most powerful and wealthy businessmen. Ma, the founder of e-commerce giant Alibaba who until the tech crackdown was China’s richest person, has rarely been seen in public since criticizing Chinese …

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Alibaba posts surprise loss as China's Covid restrictions take their toll

Alibaba posts surprise loss as China’s Covid restrictions take their toll

(Bloomberg) – Alibaba Group Holding Ltd. reported a surprise loss after quarterly revenue barely rose as China’s rigid Covid controls continue to depress consumer sentiment. Bloomberg’s Most Read China’s e-commerce leader reported a net loss of 20.6 billion yuan ($2.9 billion) against forecasts of a profit of almost the same amount, after writing down the …

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