Alibaba Group Holding has reshuffled its artificial intelligence operations, creating a new top-level business group called 'Token Hub' and placing CEO Eddie Wu Yongming in charge, signaling an accelerated push into the emerging token economy and AI development.

Alibaba Group Holding is forming a dedicated internal task force headed by CEO Eddie Wu Yongming in a bid to funnel greater resources into its foundational AI model development efforts. On Thursday, Wu said in a letter to members of the company’s artificial intelligence research lab Tongyi that the task force would “jointly coordinate group-wide resources to accelerate foundational model development”. “In technology, standing still means falling behind,” Wu said in the letter, which was provi...

German Chancellor Friedrich Merz visited China’s eastern tech hub of Hangzhou on Thursday and met leading figures including those from Alibaba Group Holding and Unitree Robotics, signalling growing international recognition of the country’s robotics and artificial intelligence technologies. Merz had lunch and took group photos with local entrepreneurs, including Alibaba CEO Eddie Wu Yongming and Unitree founder and CEO Wang Xingxing, according to a social media account run by Chinese state...