- Alibaba Group Holding Limited’s (NYSE:BABA) cloud computing division founder Wang Jian is preparing to return with a new title after several months of negotiation.
- In 2022, Alibaba CEO Daniel Zhang and others requested Jian to serve as an advisor for Alibaba Cloud, Pandaily reports.
- In 2013, Wang resigned as the president of Alibaba Cloud.
- Also Read: Alibaba Likely To Struggle With Cloud Growth, Analysts Say; Needs New Growth Driver For Other Businesses
- Wang has been pivotal in leading Alibaba Cloud through its challenging start-up phase.
- Alibaba founder Jack Ma has committed 1 billion yuan ($143 million) annually for ten years to the company. Wang led the technical research and development of Alibaba Cloud during this period.
- Following his resignation as president in 2013, Alibaba Cloud became one of the top four cloud providers within a few short years.
- The emergence of large AI models presents a new growth opportunity for cloud vendors.
- Alibaba Group is amid a revamp that involves splitting the company into six major groups.
- Price Action: BABA shares are down by 1.35% at $86.70 premarket on the last check Friday.
- Photo via Wikimedia Commons
JP Morgan Maintains Neutral on American Equity Inv, Raises Price Target to $44
JP Morgan analyst Jimmy Bhullar maintains American Equity Inv (NYSE:AEL) with a Neutral and raises the price target from $40 to $44.
