Baidu Inc
Alibaba slashes prices on large language models by up to 85% as China AI rivalry heats up
The World Artificial Intelligence Conference in Shanghai in July 2023. Aly Song | Reuters Alibaba is cutting prices on its large language models by up to 85%, the Chinese tech giant announced Tuesday. The Hangzhou-based e-commerce firm’s cloud computing division, Alibaba Cloud, said in a WeChat post that it’s offering the price cuts on its […]
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China wants to dominate in AI — and some of its models are already beating their U.S. rivals
China is focusing on large language models (LLMs) in the artificial intelligence space. Blackdovfx | Istock | Getty Images China’s attempts to dominate the world of artificial intelligence could be paying off, with industry insiders and technology analysts telling CNBC that Chinese AI models are already hugely popular and are keeping pace with — and […]
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Stocks making the biggest moves midday: Netflix, Alphabet, Nvidia, BJ’s Wholesale Club and more
Check out the companies making headlines in midday trading. Nvidia — Shares of the chipmaker dipped about 1% in midday trading, after gyrating earlier in the session. Nvidia beat on top and bottom lines for the third quarter, posting adjusted earnings of 81 cents per share on revenue of $35.08 billion. Analysts polled by LSEG […]
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Stocks making the biggest moves premarket: Snowflake, Nvidia, BJ’s Wholesale and more
Check out the companies making headlines before the bell. Snowflake – Shares surged more than 21% following the company’s better-than-expected third-quarter results and strong guidance. Snowflake posted adjusted earnings of 20 cents per share on revenue of $942 million. Analysts surveyed by LSEG were looking for 15 cents in earnings per share on revenue of […]
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Baidu posts 3% drop in third-quarter revenues, beating market expectations
Key Points Chinese tech company Baidu on Thursday reported better-than-expected revenue and profit for the third quarter. Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business. Source
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Alibaba shares rise 3% in premarket after Chinese tech giant posts 58% jump in profit
Alibaba Offices In Beijing Bloomberg | Bloomberg | Getty Images Chinese e-commerce behemoth Alibaba on Friday beat profit expectations in its September quarter, citing an acceleration in growth in its cloud business unit. Net income came in 43.9 billion Chinese yuan ($6.07 billion), compared with a LSEG outlook of 25.83 billion yuan. Revenue reached 236.5 […]
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‘Big Short’ investor Michael Burry reshuffles portfolio, adds hedges on China holdings
Michael Burry, best known for calling the subprime mortgage crisis, made a slew of changes in his portfolio last quarter, including what appears to be a hedge on his sizable bet on Chinese internet stocks. Burry, who now manages hedge fund Scion Asset Management, boosted his stakes in a few Chinese internet companies’ ADRs, according to […]
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Alibaba and more: Fund manager gets bullish on 3 China tech stocks — expecting one to double
Shares of e-commerce giants in China look attractive as Beijing attempts to stimulate domestic consumption, according to investor Jason Hsu. Hsu, founder and chairman of Rayliant Global Advisors, told CNBC’s Pro Talks that Alibaba , JD.com , and Pinduoduo are among his top picks. He also revealed a more cautious stance toward Baidu over company […]
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Chinese smartphone companies tout AI features ahead of Apple Intelligence launch
Key Points Honor, a spinoff from Huawei that focuses on higher-end devices, revealed Wednesday the latest version of its Android-based Magic operating system would focus on AI as an assistant. Telecommunications giant Huawei on Tuesday launched an upgrade to its HarmonyOS system that uses in-house AI to allow users to translate text, take notes and […]
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