The year of the snake begins well for Alibaba: since January 10, the value of the company has won 60 % on the stock market to reach its highest level for three years. The good news succeeded: on February 13, Apple had revealed to have chosen Qwen, the artificial intelligence model (AI) of Alibaba, to serve as a assistant in the iPhone sold in China. On February 20, Alibaba published encouraging quarterly results, testifying to stabilization of its online commerce activity and a strong increase in sales of its cloud division. On February 24, the company announced 380 billion yuan (50 billion euros) of investments in the “AI infrastructure”data centers, for the next three years.
But the event that convinced investors of the business good fortune was the return in grace of Jack Ma. On February 17, the charismatic founding of Alibaba was invited to an exchange between great bosses of Chinese tech and the Chinese president, Xi Jinping. With, to crown the meeting, a handshake to the air of rehabilitation for those who had left the executive management of the company to its lieutenants, and almost disappeared from Chinese public life since 2021.
You have 77.56% of this article to read. The rest is reserved for subscribers.