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China Now Has the Most Valuable AI Startup in the World

SenseTime Group Ltd. has raised $600 million from Alibaba Group Holding Ltd. and other investors at a valuation of more than $3 billion, becoming the world’s most valuable artificial intelligence startup. The company, which specializes in systems that analyze faces and images on an enormous scale, said it closed a Series C round in recent months in which Singaporean state investment firm Temasek Holdings Pte and retailer Suning.com Co. also participated. SenseTime didn’t outline individual investments, but Alibaba was the leader in AI by 2030. And it’s a contributor to…

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Alibaba Singles’ Day Posts Record 168 Billion Yuan in Sales

Jack Ma is using it as a testing ground for his plans to revamp China’s $4 trillion traditional retail sector with technology, an experiment that could help the behemoth gain an edge in China’s saturated market. “The work that’s been done in the integration of offline and online, not just in terms of the technology integration, but the data and efficiencies for brands and the consumer through personalization has been enormous,” Alibaba President Mike Evans said in an interview on Bloomberg TV. “We see the impact of it in our…

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Alibaba Singles’ Day Sales Hit $8.6 Billion in First Hour

Jack Ma is using this year’s event as a testing ground for his plans to revamp China’s $4 trillion traditional retail sector with technology, an experiment that could help the behemoth gain an edge in China’s saturated retail market. “The work that’s been done in the integration of offline and online, not just in terms of the technology integration, but the data and efficiencies for brands and the consumer through personalization has been enormous,” Alibaba President Mike Evans said in an interview on Bloomberg TV. “We see the impact of…

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