PYMNTS.com February 12, 2025
Interest in artificial intelligence (AI) has reportedly led to a turnaround for China’s Alibaba.
As Bloomberg News reported Wednesday (Feb. 12), the eCommerce conglomerate had virtually slunk into obscurity after a long regulatory crackdown in China. But in recent weeks, the report said, its stock has jumped 46%, expanding its market value by close to $87 billion.
The reason? Enthusiasm for the company’s efforts to create its own AI services and platform, something that gained fuel when Chinese startup DeepSeek released a model that caused a number of American tech stocks to plunge.
Then came a report this week from The Information that Apple had teamed up with Alibaba to launch AI features on its iPhones sold in China.
Apple...
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