Jack Ma

Jack Ma-backed Ant’s profit grew 10% after AI, global expansion

The company contributes 2.7 billion yuan of profit to Alibaba Group Holding

Jack Ma’s comeback has long been awaited as a signal that the country’s previously freewheeling tech sector is returning to favour in Beijing.

Jack Ma returns with a vengeance to ‘Make Alibaba Great Again’

The company is still recovering from a series of missteps under Daniel Zhang

Ant revamped its business model and undertook an organisational overhaul after a Chinese regulatory crackdown that followed its aborted listing in 2020.

Jack Ma-backed Ant’s profit dives 60% after AI, global expansion

ANT Group’s quarterly profit fell 60 per cent, after the Chinese digital payments giant made more inroads overseas and invested in artificial intelligence (AI) to grow its revenue. 

"It’s the responsibility of technologists to ensure that AI knows and supports humankind," Jack Ma says.

Alibaba’s Jack Ma wants AI to serve, not lord over, humans

The company, which built its success on e-commerce in China, has pivoted aggressively into AI in recent years

 Ant has been working on ways to train LLMs more efficiently and eliminate that constraint.

Jack Ma-backed Ant touts AI breakthrough built on Chinese chips

While not the most advanced, the H800 is a relatively powerful processor and is currently barred by the US from China

Ant Group attributed the sizeable profit to a net investment gain, versus a loss from such activity the previous year.

Ant Group’s profit rises with Jack Ma back in the public eye

The Hangzhou-based online finance firm contributed nearly 4.49 billion yuan of profit to Alibaba Group.

On Feb 17, Alibaba CEO Jack Ma and other entrepreneurs met at a symposium in Beijing with Xi Jinping – which is widely seen as a sign that private sector tech is back in favour.

Xi’s rehabilitation of Jack Ma may be the most lucrative ever

Why China’s leader is making nice with the country’s tech billionaires

A giant screen shows news footage of Huawei founder Ren Zhengfei speaking next to BYD CEO Wang Chuanfu and New Hope's founder and Chairman Liu Yonghao at a symposium on private enterprises with Chinese President Xi Jinping (not pictured), at a shopping complex in Beijing on Feb 17.
NEWS ANALYSIS

Xi’s new frontline corporate guard showcases his priorities, control

WHEN President Xi Jinping hosted entrepreneurs at a rare meeting in Beijing in 2018, the executives granted coveted front-row seats came from industries ranging from high-tech to energy, and few were ...

Xi Jinping first chaired a high-profile symposium for the private sector in 2018, six years after he came to power.

China’s Xi holds rare meeting with business leaders, including Jack Ma, amid US tech rivalry

Xi has long stressed the need for China to achieve self-sufficiency in semiconductors and wants the country to use AI to drive economic development

One major driver of the rally is Alibaba Group Holding contributing to a surge of almost 60 per cent since Jan 13.

Xi-Jack Ma chat seen as next catalyst for blistering China rally

A meeting involving Xi and Ma can be a pivotal turning point for Alibaba since Beijing spiked Ant Group’s IPO at the 11th hour