On Wednesday, the shares of Chinese tech giant Alibaba climbed 9% after the company’s CEO promised to allocate even more resources to AI development in a bid to stay ahead in the race with various tech firms, both local and foreign.
The positive response to Wu’s revelation of the company’s intention to allocate more funding toward AI development mirrors what happened in the U.S. during the earnings season when companies like Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG), the parent company of Google, also saw their…
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