While Taobao and Tmall missed estimates amid intensifying competition, the tech giant’s cloud growth stood out amid ‘robust demand’ for AI products.
The food delivery giant is tapping into China’s growing on-demand e-commerce market by offering a wider variety of products.
The Chinese tech giant aims to push comprehensive AI solutions in the region, where it has achieved 20-fold growth in public cloud services over the past four years.
The tech giant’s revenue grew 4 per cent, while profits were down 29 per cent to US$3.3 billion, as it seeks to shore up e-commerce and cloud services.
The e-commerce giant posted a 92% rise in second-quarter earnings, as online retail grew in China.
US online retailer iHerb is setting up a new warehouse in Hong Kong with Cainiao Smart Logistics Network, seeking to boost its order fulfilment capabilities in Asia.
Tech giants are seeing the biggest gains from GenAI by integrating LLMs into apps and services that already had large user bases, according to QuestMobile.
Tencent’s profit grew to US$6.6 billion in the second quarter, while revenue rose 8 per cent to US$22.5 billion.
Foxconn expects revenue to grow in the current quarter and for the rest of year, boosted by demand for AI servers used in data centres.
Pixel 9 phones can use AI in practical ways, from taking notes during phone calls to searching screenshots for information. Application of AI impresses tech analysts at launch event in California.
