BEIJING: Alibaba said on Monday it will spend 3 billion yuan ($431 million) to attract users to its Qwen AI app during the upcoming Lunar New Year holiday, intensifying competition among China’s leading tech firms. The spending pledge, triple the amounts announced by rivals Tencent and Baidu, will begin on February 6 and include incentives […]
Qwen AI
Alibaba beats revenue estimates amid delivery and AI push
BEIJING: Chinese e-commerce giant Alibaba surpassed analysts’ quarterly revenue expectations on Tuesday, driven by investments in one-hour delivery services and strong growth in its cloud division. Shares of the US-listed company rose 4% in premarket trading. Read More: Alibaba commits to boosting Pakistan’s digital trade skills Alibaba’s results come amid fierce competition in China’s “instant retail” […]