Alibaba is nearing a bullish Golden Cross, with strong AI and cloud ambitions, despite facing competition and bearish momentum. Solid business, attractive valuation, and potential uptrend signal future growth.
Ant Group's 2023 research spending of $2.9B for AI development. Models powering Alipay's assistants and expanding globally. BABA stock faces challenges.
Key Takeaways:
DiDi Global’s first-quarter revenue grew 14.9% to 49.1 billion yuan, marking a fifth straight quarter of double-digit growth
The ride hailing app has moved past earlier regulatory headwinds, but has lost market share to competition and smaller rivals using aggregating platforms
By Hugh Chen
Alibaba Group Holding is prioritizing long-term growth over near-term profits. However, analysts are warning that the e-commerce giant's efforts might be hampered by fierce competition.
Apple could potentially partner with Chinese tech giants Baidu and Alibaba Group Holding for its AI features in China, according to tech analyst Gene Munster.