![]() He added, "AI can play a huge role in all of those different areas. Instead, Zhang said that Alibaba would integrate the chatbot "into business around consumption, around user experience, content generation to drive higher advertising effectiveness." Hong Kong stocks weakened amid a HK205 billion (US26.1 billion) sell-off in Tencent Holdings and BYD as corporate insiders continued to cut their holdings. In a letter to employees, Daniel Zhang, Alibaba’s chief executive, said the holding. Alibaba Investor Relations site contains information about Alibaba Corporation Inc and provides information about the business & financial information relevant to shareholders, potential investors, and financial analysts. In the first six months ended June 30, 2022, Alibaba’s average daily trading volume in Hong Kong was approximately US0. "We expect to see exponential growth in demand for compute power," as these technologies develop, Zhang said.Īlibaba did not provide more details on its ChatGPT rival, but said that it would not be "having a chatbot for the sake of having a chatbot." The company’s stock is down roughly 70 percent since it became a target in the technology sector crackdown. The data service is provided by Alibaba Cloud, with a delay of at least 1 hour. Since the Company’s secondary listing in Hong Kong in November 2019, there has been a significant increase in its public float and transaction volume on the Hong Kong Stock Exchange. This needs lots of computing power, which cloud companies could offer. Generative AI requires huge amounts of data processing to train an AI model. Alibabas Hong Kong-listed shares have fallen 49 from HK176 at. Zhang said on an earnings call Thursday that Alibaba is looking to "capture the market opportunities" to provide the computing power required, via its cloud division, to generative AI applications. Analysts estimated there could be 21 billion worth of inflows from mainland investors into Alibaba stock through Stock Connect. It is an example of so-called generative AI, where artificial intelligence is used to generate images or text. ChatGPT is the highly popular chatbot product from OpenAI. However, it saw a decline in revenue from the public services industry.Īlibaba said this month that it is working on a ChatGPT style of technology that could be integrated into its products. This marked a slowdown from the 4% revenue rise seen in the previous quarter and remains far off the more than 30% growth rates seen in the past.Ĭloud computing accounts for just 8% of Alibaba's revenue but is seen by analysts as a future growth driver of the company.Īlibaba said it also had growth from non-internet industries such as financial services, education and automobile firms using its cloud services. Personal Loans for 670 Credit Score or LowerĪlibaba reported cloud revenue of 20.18 billion yuan for the fiscal third quarter, up 3% year on year. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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