Alibaba is doubling down on A.I. — Chinese stocks to watch

Chinese e-commerce giant Alibaba is declaring a new era. "We believe the growth opportunity driven by AI services have just begun," management said in a conference call with analysts Thursday. They're claiming "strong demand" for training artificial intelligence models on the cloud — so much that they can't meet all the requests due to a shortage of processing power. Cloud is the first of the six business units that Alibaba has signaled clear IPO plans for.

Qianhai, the bank's majority-owned joint venture in China. They have buy ratings on three mainland-China listed stocks, known as A shares. Here is the analysts' case: Foxconn Industrial Internet — An Nvidia supplier, the company is expected to benefit from AI investments from Microsoft, Google and Amazon, among others.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese property giant Country Garden warns of $7.6 billion loss as it nears default | CNN BusinessOne of China’s biggest property developers says it has burned through up to $7.6 billion in the first half of the year, compounding the crisis coursing through the country’s embattled real estate sector.
Source: cnni - 🏆 326. / 59 Read more »