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Ant International raises $1.2 billion in global expansion push
Reuters15d agoneutral
Ant International raises $1.2 billion in global expansion push

Ant International, an overseas affiliate of the Jack Ma-founded ‌Chinese fintech firm Ant Group, has raised $1.2 ‌billion in its latest equity fundraising as it seeks ​to expand. Affiliates Ant Group and Alibaba Group participated in the private funding round, the company said on Tuesday, without disclosing the size of their ‌commitment. Ant International plans ⁠to accelerate its expansion in the merchant payment business, account management and other ⁠financial services for enterprises globally.

BABA
Behind the Ticker: RISE Ditches the Usual EM Playbook
etf.com15d agoneutral
Behind the Ticker: RISE Ditches the Usual EM Playbook

<p>Looking to diversify your U.S. equity-centric portfolio? Emerging markets are touted as one of the best solutions, but these days they’re strikingly similar in tech concentrations to U.S. funds. Pictet’s Young Jae Lee offers a different perspective and approach to EM investing with genuine diversification via the RISE ETF on this week’s Behind the Ticker. </p>

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Alibaba signals shift in AI coding war with Anthropic
TheStreet15d agoneutral
Alibaba signals shift in AI coding war with Anthropic

There are only two AI leaders that matter in the fight for coding supremacy right now, and neither is backing down from the other. Anthropic’s Claude Fable 5 remains the benchmark every Chinese lab measures itself against, and two different companies made that exact comparison within three days. ...

BABA
AliExpress hit with €550 million fine over sales of illegal products
Reuters Videos16d agoneutralVIDEO
AliExpress hit with €550 million fine over sales of illegal products

<body><p>STORY: Alibaba's AliExpress was hit with a record €550 million ($629 million) fine from the European Union on Monday for failing to tackle sales of illegal, unsafe and counterfeit products on its platform.</p><p>The company said it will appeal the fine as it considers it excessive.</p><p>Thomas Regnier is an EU spokesman.</p><p>"AliExpress has just received a fine of 550 million euros for breaching the Digital Services Act. AliExpress failed to assess and mitigate the risks of illegal products being offered on its marketplace. Just to give you a figure, the company itself reported that almost 15 million illegal products were recommended last year to users in the European Union. We're mostly speaking about unsafe and counterfeit products, such as cosmetics, toys, clothes, or gadgets, to name just a few."</p><p>The EU said AliExpress had not properly evaluated whether it had enough people to review the risks and had overestimated the effectiveness of its system in detecting and removing illegal products.</p><p>AliExpress said in an email that the decision ignores its quote, “sound risk management framework and the significant, proactive enhancements we have made."</p><p>The fine was the third issued under the EU's landmark new law which requires very large online platforms to do more to counter illegal and harmful content.</p><p>The company could face further penalties if the regulator decides in December that it is not complying with the ruling.</p><p>AliExpress’ competitor Temu has also been fined under the new law while Shein is facing an ongoing investigation.</p><p>Temu was hit with a €200 million fine in May while Elon Musk's social media platform X received a €120 million penalty in December last year.</p></body>

BABA
Chip Stocks Regain Ground, Powering Nasdaq
The Wall Street Journal16d agoneutral
Chip Stocks Regain Ground, Powering Nasdaq

STOCKS Investors are kicking off the trading week with AI bubble anxieties seemingly in the rearview mirror, pushing chip stocks higher and powering a nearly 1% advance in the Nasdaq composite. The gains come despite Alibaba previewing its new artificial-intelligence model-the second time in a week that China has flexed its advances in AI.

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Bloomberg16d agoneutral
Chinese AI Sensation Moonshot’s Gamble on Big Models Pays Off

(Bloomberg) -- Crowds rushed to an obscure corner of China’s premier tech summit, moving past monumental booths from Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to catch a glimpse of the hottest name in domestic AI.Most Read from BloombergUS Strikes Iran in Escalating Campaign After Troops KilledThousands of Trucks Haul Iraq’s Oil Through Syria in Sign of Hormuz LegacyUS Strikes Iran to ‘Punish’ It for Attack That Killed 2 TroopsTrump Silent So Far on Iran Plans as US Death Toll Hits 17

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Why This Citi Analyst Says Alibaba Could Lead the AI Race
The Wall Street Journal16d agoneutral
Why This Citi Analyst Says Alibaba Could Lead the AI Race

Alibaba shares climbed in Hong Kong today after the company previewed a new large-language model that it says is second only to Anthropic’s Fable 5—the second time in a week that China has flexed its AI strength. Generally, the more parameters an AI model has, the more capable and powerful it is. Markets generally took the announcement in stride, with U.S. chipmakers rising in premarket trading—a sharp reversal from Friday when Beijing-based Moonshot AI unveiled its Kimi K3 model, with 2.8 trillion parameters.

BABA
Stocks to Watch: Alibaba, Ryanair, AMC Entertainment, Micron
The Wall Street Journal16d agoneutral
Stocks to Watch: Alibaba, Ryanair, AMC Entertainment, Micron

↗️ Alibaba (BABA, HK:9988): Shares in the Chinese internet giant rose after it previewed its new AI model, which it said is second only to Anthropic’s Fable 5. ↘️ Ryanair (IR:RYA): Shares in the budget airline fell after it reported a drop in first-quarter profit, hit by lower fares and rising fuel costs because of the conflict in the Middle East.

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