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Jack Ma's surprise visit to Pak sparks rumours about his investment plans
Inshorts
·
2y ago
Medial
Jack Ma, the billionaire from China, made an unexpected trip to Pakistan recently, leading to speculation about potential business prospects in the country. There were reports suggesting that Ma visited trade centers and had meetings with influential business figures. However, Pakistani entrepreneur Muhammad Azfar Ahsan clarified that Ma's visit was of a personal nature and lasted for approximately 23 hours.
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Alibaba Group CEO takes over as chief of domestic ecommerce business
Economic Times
·
1y ago
Medial
Jack Ma, the CEO of Alibaba Group, taking over as the chief of the company's domestic e-commerce business. This move comes as the company restructures its operations to better align with its strategic goals. Ma's appointment reflects his continued influence within the company and his commitment to driving Alibaba's success in the Chinese market.
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Jack Ma halts plan to sell Alibaba shares after stock tumbles
Livemint
·
1y ago
Medial
Alibaba founder Jack Ma has reportedly postponed his plans to sell millions of dollars worth of shares after the Chinese e-commerce giant's stock price plummeted. Ma had intended to offload 10 million shares worth around $871 million, but as the stock price fell below his expectations, he has not sold any shares. Alibaba's shares have dropped by over 10% this year. Ma's office stated that he will continue to hold onto his Alibaba stake, believing that the value of the company's businesses will increase.
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Jack Ma loses $683 million on Alibaba after its shares drop by 9%
Livemint
·
1y ago
Medial
Jack Ma's wealth took a hit of $683 million after Alibaba's stock tumbled following the company's decision to not spin off its $11 billion cloud business unit. This comes just days before Ma planned to sell 10 million shares, worth around $870 million. Ma's net worth now stands at $29.2 billion.
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First he was a teacher. Then he was China's top tech titan. Now, meet Jack Ma 3.0 — a high-tech farmer.
Business Insider
·
1y ago
Medial
Alibaba co-founder Jack Ma, once the poster child of Chinese tech, faced backlash from Beijing after criticizing Chinese regulators, leading to a crackdown on his business empire. Since then, Ma has disappeared from the public eye and his whereabouts have been the subject of speculation. However, over the past two years, he has been spotted at various institutes worldwide studying high-tech farming. In addition, he recently incorporated a company called "Hangzhou Ma's Kitchen Food" involved in the sales of pre-packaged food and agricultural products. Ma's pivot to agriculture reflects his recognition of issues like climate change and inequality that need to be addressed.
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Elon Musk says he’s a ‘big fan of China’
Livemint
·
1y ago
Medial
Tesla CEO Elon Musk expressed his admiration for China during a surprise visit to Beijing. Musk cited being a fan of China and mentioned his large fanbase in the country. He also discussed Tesla's plans to introduce Full Self-Driving (FSD) and share driving data in China, which is Tesla's second-largest market. Additionally, there were discussions about a possible deal with Baidu for using its maps to gather information on Chinese roads. Musk's remarks received mixed reactions from netizens, with some expressing concerns about China's government.
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Alibaba exec moves to quell staff concern over Jack Ma share sale with internal post
Economic Times
·
1y ago
Medial
Alibaba executive Jiang Fang addressed concerns within the company over the recent disclosure of Jack Ma's family trust plan to sell some shares in the company. In an internal post, she explained that the disclosure was a requirement under US securities rules, and it coincided with the release of the company's financial report, leading to a misunderstanding. Jiang also denied rumors of layoffs and reiterated that Ma remains positive about Alibaba, stating that the family trust did not sell any shares.
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GTA 6 sparks controversy with rumours of massive 320GB file size
Livemint
·
1y ago
Medial
Despite some junk lines, here's a summary focusing on the main points: The rumored file size of Grand Theft Auto 6 (GTA 6) has sparked controversy among gamers. One post on social media hinted at a massive 320GB file size, while a previous leak suggested 750GB. This has drawn mixed reactions, with some excited for a groundbreaking game and others concerned about the practicality, especially for console users with limited storage space. The debate continues as players weigh the excitement of GTA 6 against the potential need for hardware upgrades.
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Alibaba founder Jack Ma steps out from shadows with long internal post
Economic Times
·
1y ago
Medial
Alibaba co-founder Jack Ma has shown his support for the company's restructuring efforts in a memo to employees, potentially indicating a more active role for him in the future. Following the memo, Alibaba's shares in Hong Kong surged 5.5%, the largest increase since February. Ma praised the leadership of Alibaba's CEO and chairman, highlighting the effectiveness of the company's divisional structure implemented a year ago. This memo comes after Ma's public criticism of Chinese regulators and subsequent withdrawal from the public eye. Ma emphasized the importance of innovation and the ability to adapt to the future.
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OpenAI CEO calls India potential AI leader, sees 10x dip in key AI module cost in a year
Livemint
·
6m ago
Medial
OpenAI CEO Sam Altman has recognized India as a vital AI market, endorsing its potential to lead the AI revolution. During his visit to New Delhi, he noted significant growth in OpenAI users, highlighting India's innovative efforts in AI application. Despite past skepticism about India's ability to develop foundational models, Altman predicts a reduction in AI development costs, fostering creativity. OpenAI plans further investment in AI infrastructure, emphasizing India's importance in the global AI landscape.
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Alibaba's strong year-end sales help to drive revenue rebound
Economic Times
·
5m ago
Medial
Alibaba reported stronger-than-expected third-quarter revenues, driven by successful year-end sales and effective strategies to attract cost-conscious consumers. The company experienced a boost from international markets and increased spending during China's Singles' Day event, contributing to a 26.6% rise in sales. Alibaba's growth extends into AI and cloud computing, with a 13% revenue increase in its Cloud Intelligence Unit and significant international ecommerce growth. Investor confidence is boosted by strategic business wins and co-founder Jack Ma's public reappearance with President Xi Jinping.
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