alibaba

Chinese Tech Firms Baidu, TikTok-owner ByteDance, Tencent, Alibaba Order Nvidia AI Chips Worth $5 Billion: Report

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[ad_1] China’s internet giants are rushing to acquire high-performance Nvidia chips vital for building generative artificial intelligence systems, making orders worth $5 billion (roughly Rs. 41,400 crore), the Financial Times reported on Wednesday. Baidu, TikTok-owner ByteDance, Tencent and Alibaba have made orders worth $1 billion (roughly Rs. 8,300 crore) to acquire about 100,000 A800 processors from … Read more

China Says Its New Measures to Regulate Generative AI Will Apply Only to Products for the Public

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[ad_1] China published measures on Thursday to manage its booming generative artificial intelligence (AI) industry, softening its tone from an earlier draft, and said regulators would seek to support development of the technology. The rules, set to take effect on August 15 and which Beijing described as “interim”, come after authorities signalled the end of … Read more

GameStop Ousts CEO, Posts Bigger-Than Expected Quarterly Loss

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[ad_1] Ryan Cohen, the billionaire investor whose bold bet on GameStop made him a hero to meme stock traders, took over as executive chairman on Wednesday after the video game retailer ousted its CEO and posted a bigger-than expected quarterly loss. Investors pushed the stock price down more than 20 percent in after-hours trading, continuing … Read more

Tencent to Cut Cloud Services Prices by Up to 40 Percent to Match Rivals

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[ad_1] Chinese internet giant Tencent Holdings is cutting prices for cloud services by up to 40 percent from June amid similar moves from rivals that have plunged the sector into a price war. The fierce competition comes amid soft corporate demand, with the Chinese economy in the midst of a wobbly recovery since abandoning strict … Read more