Ant Group Co. Ltd. is using semiconductors from both China and the United States to minimize artificial intelligence (AI) development costs, CNBC reported on Monday citing a source.According to the source, the tactic not only leads to cost cuts and time reduction in the making of AI models but...
Ant Group Co. Ltd. plans to buy international investors out of database management OceanBase, The Information reported on Tuesday.
OceanBase will first be spun off as a separate firm, three unidentified sources familiar with the situation told the media outlet.
The move is reportedly part of the...
Ant Group announced on Saturday a share buyback plan that values the company at ¥567.1 billion ($78.54 billion) as management seeks to replenish its staff incentive pool.
"The repurchased shares will be transferred into Ant Group's employee incentive plans to attract talent. The repurchase...
The China Securities Regulatory Commission announced on Friday that it fined Ant Group $984 million (7.12 billion yuan) "in view of the illegal and irregular acts by Ant Group and its affiliates in previous years."
Chinese newspaper Global Times reported the fine was imposed for "various violations...
Ant Group's efforts to obtain a financial holding company license are obstructed by changes in China's regulatory system. the Wall Street Journal reported on Friday. The company has been waiting for restructuring approval for over a year, according to people familiar with the matter. However,...
Ant Group announced on Saturday a series of corporate governance changes, resulting in its founder Jack Ma (pictured) no longer having control of the company. Prior to the change, he effectively held 53.46% of the shares of Ant Group through Hangzhou Junhan and Hangzhou Junao Investment...
Alibaba's co-founder Jack Ma might hand over control of Ant Group Co. to the company's executives, according to a report published by the Wall Street Journal on Thursday, likely further delaying Ant's $34 billion public listing that was halted by Beijing two years ago.
However, sources familiar with the...
Alibaba Group Holding's shares listed in the United States decreased by 8% on Thursday, after the Ant Group confirmed it will not revive its initial public offering (IPO).
"Under the guidance of regulators, we are focused on steadily moving forward with our rectification work and do not have any plan to...
Ant Group Co. is going to shut down its "mutual aid" crowdfunded medical coverage venture, the company said in a statement on Tuesday.
The service, known as Xianghubao, will end on January 28, 2022, the company added, attributing the move to "significant changes" in the "mutual aid...
Alibaba Group Holding Limited's affiliate Ant Group is discussing the possibility of introducing a joint venture with companies owned by the Chinese government that would share consumer data and subject it to regulatory oversight, anonymous sources close to the matter told The Wall Street...
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