Alibaba sells gaming arm for US$1.5 billion in boost to AI pivot

Published Aug 17, 02:18 AM UTC

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Alibaba Group Holding is selling its gaming arm in a deal worth at least US$1.5 billion, according to Bloomberg. The sale is part of a broader corporate restructuring under CEO Eddie Wu, aimed at sharpening the company's focus on artificial intelligence. Alibaba has set an ambitious target to reach US$100 billion in AI revenue within five years. The divestiture of the gaming business is expected to provide capital and strategic clarity for the company's AI pivot, marking a significant shift in its portfolio strategy.

Source

The Business TimesRegional

Original headline: Alibaba to sell gaming arm for US$1.5 billion in boost to AI pivot: Bloomberg

Original language: EN-US

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