Chinese language e-commerce juggernaut Alibaba Group Holding’s BABA flagship annual Apsara Convention grew to become a vital platform for the nation’s AI start-ups to showcase their accomplishments and extra.
Now in its sixteenth yr, the Apsara Convention was estimated to draw greater than 280 corporations and an viewers of over 90,000, SCMP cited Liu Jie, Hangzhou’s communist occasion secretary.
The occasion displays Alibaba’s initiatives to perform its AI ambitions regardless of the U.S. superior expertise sanctions, which have restricted its entry to classy Nvidia Corp NVDA AI chips.
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Alibaba stays aggressively invested in its self-developed Tongyi Qianwen LLM household and has emerged as an investor in all 4 of China’s “AI tigers”—Moonshot AI, Baichuan AI, Zhipu AI, and MiniMax.
Moonshot AI arrange a sales space on the Apsara exhibition space to showcase its Kimi AI chatbot. The 01.AI start-up based by pc scientist Lee Kai-fu bagged Alibaba’s assist. Motiff, a Beijing-based start-up, emerged as a first-time participant on the Apsara Convention this yr.
Alibaba Cloud revealed a number of case research showcasing its position in AI empowerment, together with a partnership with electrical car maker XPeng Inc XPEV to reinforce the good cockpit expertise.
Apsara additionally allowed overseas corporations like Nvidia to showcase their choices for China’s AI business.
Earlier this week, Alibaba tapped Nvidia to spice up the autonomous driving expertise for Chinese language good car house owners like Li Auto Inc LI.
Alibaba, thought-about the tech barometer for China, has elevated over 11% within the final 12 months because the U.S. and China key fee cuts posed tailwinds for the economies. Buyers can achieve publicity to Alibaba by the Goldman Sachs Hedge Trade VIP ETF GVIP and the JPMorgan U.S. Tech Leaders ETF JTEK.
Value Motion: BABA inventory closed greater by 7.88% at $97.19 on Tuesday.
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