Alibaba Snags Deal to Power AI on Apple’s iPhones in China
Alibaba has scored a prized deal as it tries to carve out a lead in the highly competitive artificial intelligence race. Apple’s iPhones in China will use Alibaba Group’s AI technology, chairman Joe Tsai said. That confirmed an earlier report that sent the Hangzhou-based company’s shares briefly soaring as much as 9.2% in Hong Kong.
The e-commerce company's Hong Kong stock rallied over 6% after Bloomberg and Reuters reported that Chinese President Xi Jinping would meet with Alibaba co-founder Jack Ma and other business leaders.
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Alibaba (NYSE: BABA) stock jumped more than 7% in early trading on the NYSE Friday, before turning tail and giving back nearly half its gains. As of 11:05 a.m. ET, shares of the Chinese e-commerce ...
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