spinnerspinball| The dark side of Alibaba's $800 million investment month: AI helps business growth

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Alibaba injects $800 million into artificial intelligence company Dark Side of the Moonspinnerspinball, holding 36%, betting that AI will accelerate business growth.

Newsletter text

Alibaba invests heavily in AI startups: On May 24, Alibaba Group announced an important investment move, injecting approximately US$800 million into Moonshot AI, an emerging company in the field of artificial intelligence. The funds will be used to purchase approximately 36% of preferred shares in the dark side of the moon. This strategic capital injection demonstrates Alibaba's strong confidence in the development prospects of artificial intelligence technology.

spinnerspinball| The dark side of Alibaba's 0 million investment month: AI helps business growth

In the shareholder letter, the company's decision-makers emphasized the key role of artificial intelligence in future business development. Alibaba Group Chairman Cai Chongxin and CEO Wu Yongming jointly stated that AI technology is seen as a key driver in promoting and accelerating business growth.