Page 3 - Cloud Intelligence News Today

Alibaba is starting to cut its money losers. And this is bad news?

BEIJING (BLOOMBERG) – Alibaba Group Holding Ltd is taking the first steps toward revamping its cloud business by overhauling its leadership, aiming to revive growth and ride an AI boom after cancelling a much-anticipated spinoff of the USD11 billion unit. The company has appointed three new executives to head up major business lines within Alibaba […]

Company appoints three new executives as it aims to revive growth in cloud business.

(Bloomberg) -- Alibaba Group Holding Ltd. is taking the first steps toward revamping its cloud business by overhauling its leadership, aiming to revive growth and ride an AI boom after canceling a much-anticipated spinoff of the $11 billion unit.Most Read from BloombergOpenAI Engineers Earning $800,000 a Year Turn Rare Skillset Into LeverageXi Tolerance for Property Pain Nears Limit as Rescue EmergesBond Rally Shows Signs of Stalling as Stocks Waver: Markets WrapDublin Night of Riots Leaves City

The company has appointed three new executives to head up major business lines within Alibaba Cloud Intelligence, with two reporting directly to Chief Executive Officer Eddie Wu.

BJ’s: Mixed third quarter results

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The Chinese internet giant Alibaba has chosen to abandon its plans for a spinoff of its cloud services arm, Cloud Intelligence Group.

SHANGHAI: Chinese e-commerce giant Alibaba said on Thursday it was canceling a planned cloud service spin-off announced this year over US chip restrictions, as it reported results for the third quarter of 2023 that were in line with market expectations.

Asian stocks fell Friday as a rally fuelled by the likely end of US interest rate hikes ran out of puff, while Alibaba dragged Hong Kong down after saying