Alibaba was once a Wall Street darling. What’s next?

Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Brendan McDermid | Reuters BEIJING — It’s been a tumultuous 12 months for Alibaba, casting doubt on the future of the tech giant just as artificial intelligence is taking off. The company’s cloud computing unit was … Read more

Baidu says its ChatGPT rival Ernie bot has more than 100 million users

HANGZHOU, CHINA – NOVEMBER 23: People learn about Baidu’s artificial intelligence (AI) chatbot service ERNIE Bot during the 2nd Global Digital Trade Expo at Hangzhou International Expo Center on November 23, 2023 in Hangzhou, Zhejiang Province of China. (Photo by Wang Gang/China News Service/VCG via Getty Images) China News Service | China News Service | … Read more

AI boom fails to propel China’s cloud market growth

An AI sign is seen at the World Artificial Intelligence Conference in Shanghai on July 6, 2023. Aly Song | Reuters BEIJING — Excitement over artificial intelligence isn’t yet fueling a boom in cloud services spending in mainland China. “The Chinese cloud services market remains conservative, relying heavily on government and state-owned enterprises to drive … Read more

Tencent, NetEase shares rebound after China regulator’s assurance on new rules

A mobile phone is displaying the screen of Tencent Games company’s stock plunge in Suqian, Jiangsu Province, China, on December 22, 2023. Costfoto | Nurphoto | Getty Images Chinese online gaming stocks rose Wednesday, recovering some losses from the previous session after the country’s top gaming regulator said it will “carefully study” the concerns of … Read more

Stock Markets: Inflation mission accomplished?

A customer shops for milk at a grocery store on December 12, 2023 in San Anselmo, California.  Justin Sullivan | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter … Read more

China’s potential new gaming rules will hit smaller developers more

Mobile games in China range from League of Legends-like Honor of Kings to Source: Apple Inc. BEIJING — China’s proposed gaming rules would hit smaller developers more than large ones, while also reducing overall online advertising revenue, according to UBS. Tencent, NetEase and Bilibili shares plunged to their lowest in more than a year Friday … Read more

Tencent loses over $43 billion in market value after China proposes new online gaming rules

Tencent lost about $43.5 billion in market value on Friday after China surprised financial markets with a fresh set of rules aimed at curbing excessive gaming and spending. The draft guidelines from China’s National Press and Publication Administration sank the Hong Kong-listed shares of Tencent, NetEase and Bilibili — among the largest online gaming-related counters … Read more

China’s livestream shopping booms, fueling new tech like avatars and AI

HAIAN, CHINA – NOVEMBER 7, 2023 – A crab farmer sells crabs via a live webcast at Xinhai village in Haian city, Jiangsu province, China, Nov 7, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images BEIJING — Livestream shopping is taking off in China, driving development of new tech products … Read more