Alibaba

The US government is exploring restrictions on Ant Group as well as Tencent over concerns that their digital payment platforms threaten US national security, Bloomberg reported on Wednesday citing people familiar with the matter.

At the 2020 Alibaba Global Investor Conference, Alibaba Group Chief Financial Officer Wu Wei revealed for the first time that in recent years, Alibaba has been investing more than 100 billion yuan a year in technology and research and development.

Alibaba founder Jack Ma ceased to be a director of Alibaba Group with immediate effect, in accordance with a series of succession arrangements made two years ago, according to an announcement of Alibaba's annual general meeting on September 30.

Alipay, a subsidiary of Alibaba, said today that Industrial and Commercial Bank of China (ICBC)'s key business system, the corporate wealth management system, has recently completed the transformation from mainframe to distributed architecture and is running smoothly on financial level database OceanBase.

A year ago, Alibaba unveiled its first AI chip, the Hanguang 800, the most powerful AI reasoning chip at the time. The company recently shared an update on the Hanguang 800's progress nearly a year after its launch.

Zhang Jianfeng, president of Alibaba Cloud Intelligence Business Group and president of Alibaba DAMO Academy, today unveiled Wuying, Alibaba's first cloud computer, a supercomputer that grows in the cloud, at the 2020 Apsara Conference.

Jack Ma, the founder of Alibaba, recently said that if he were to start up again, he would not choose the Internet, but would enter a traditional industry.

As of August 26, Alibaba owned 19% of Xpeng's Class A common stock, or 13.3% of Xpeng's outstanding common stock, according to Alibaba and Xpeng's filings with the US Securities and Exchange Commission.

After years of hard work, Alibaba is now approaching one billion domestic consumers and 180 million overseas consumers annually, Daniel Zhang, Chairman of the Board and CEO of Alibaba Group, said today.

Alibaba has suspended plans to invest in Indian companies and will not put in new money to expand its investments in India for at least six months, Reuters said, citing people with knowledge of the matter.