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.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom 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 »