Author: Press Room
© Reuters. FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing, China, January 5, 2021. REUTERS/Thomas Peter By Josh Horwitz SHANGHAI (Reuters) -Alibaba Group Holding Ltd on Tuesday showed off its generative AI model – its version of the tech that powers chatbot sensation ChatGPT – and said it would be integrated into all of the company’s apps in the near future. Called Tongyi Qianwen, the AI large language model drafted invitation letters, planned trip itineraries and advised shoppers on types of makeup to purchase in a filmed demonstration. Tongyi Qianwen will initially be integrated…
Before 2017, China was the best thing in the world to corporate America, Wall Street and to many lawmakers and lobbyists on Capitol Hill. Trump changed all that. Biden kept apace with the Trump-era China strategy, even going harder on export restrictions and capital market sanctions. Companies like BlackRock BLK and Vanguard have had to sell millions of shares in Chinese companies listed here and abroad because they were deemed too close to the military. Then Covid happened. China locked down. Everything was a mess. Companies that love doing business in China realized they needed to source from other places,…
Hockey Hall of Famer Chris Chelios has listed his Malibu beach home for $75 million. The Paradise Cove property is located among some of the most desirable homes in the California beach city. About 45 minutes from Los Angeles via the scenic Pacific Coast Highway is Malibu, playground of the rich and famous and their fabulous beach homes. Chelios’ Mediterranean-style mansion is on a spacious 1.7-acre lot, offering one of California’s best ocean views. An impressive entryway leads to a grand living room, featuring breathtaking views of the coastline through its large windows. The chef’s kitchen is equipped with high-end…
Bitcoin climbed on Monday evening, topping the key psychological level of $30,000 as investors awaited key inflation data later in the week that could steer crypto prices.The largest cryptocurrency by market cap rose 7% to $30,193.25 for the first time since June, according to Coin Metrics. Ether advanced more than 3.5% to $1,925.11 for the first time since August as investors awaited the Ethereum network’s latest tech upgrade, scheduled for Wednesday.Now that bitcoin has touched $30,000, a move into the mid- to high-30s will be “likely” if it pushes through with conviction and would “force short speculators to cover and…
Alibaba Cloud, the cloud computing unit of Chinese tech giant Alibaba, announced Tuesday it will be rolling out its own ChatGPT-style product Tongyi Qianwen.Tongyi Qianwen, which possess Chinese and English language capabilities, will initially be deployed on DingTalk, Alibaba’s workplace communication software, and Tmall Genie, a provider of smart home appliances, the company said in a release.Hong Kong-listed shares of Alibaba gained further after the announcement and traded 3.12% higher. Shares of rival Baidu were down more than 4%.Stock Chart IconStock chart iconAlibaba set to release its rival to ChatGPTAt the 2023 Alibaba Cloud Summit, the company said it will…
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. It’s been one month since Silicon Valley Bank collapsed, triggering alarms throughout the halls of global finance. The initial panic has settled into a more tolerable state of tension. We can all take a deep breath, knowing our money is safe and that banks have the tools they need, courtesy of the federal government, to weather the storm. “We’re going from flashing red lights to flashing yellow lights,” Wells Fargo’s senior bank analyst Mike Mayo told…
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Swiss prosecutors have launched a probe into the UBS takeover of rival Credit Suisse. Switzerland’s Federal Prosecutor is looking into possible breaches of criminal law. The takeover has proved highly unpopular in Switzerland, with a majority wanting UBS split up. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Swiss prosecutors have launched a probe into the takeover of Credit Suisse by its arch rival UBS as scrutiny of the highly controversial acquisition intensified, according to a report.Switzerland’s Federal Prosecutor told the Financial Times it…
Twitter’s revenue per employee crashed in the years before Elon Musk’s takeover. This measure of efficiency is back in vogue in tech, according to executives and investors. The figure might explain Musk’s decision to cut thousands of jobs. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The revenue generated by each employee at Twitter collapsed in the years running up to Elon Musk’s $44 billion buyout, shedding light on why the billionaire planned to axe half of staff after taking over.Twitter’s revenue per employee…
