Alibaba Signs Strategic Cooperation Agreement with Guangdong
Hangzhou-based firm plans increased investments in computing power, AI models, and digital services under a new framework agreement.
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Alibaba signed a strategic cooperation framework agreement in Guangzhou on Thursday to increase investments in computing power, AI models, and digital services in Guangdong province.
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Alibaba signed a strategic cooperation framework agreement in Guangzhou to boost investments in technology and digital services.
Under a strategic cooperation framework agreement signed on Thursday in Guangzhou, capital of Guangdong province in southern China, the Hangzhou-based firm planned to increase its investments in computing power, AI models and digital services, according to a report by local state media Nanfang Daily.
Provincial party secretary Huang Kunming thanked Alibaba “for its long-standing support of Guangdong’s economic and social development” and urged the company to “step up efforts in technology innovation, research development and investment” in the region, according to the report.
He highlighted potential synergies with energy and telecommunications companies to strengthen computing power in Guangdong, alongside the deployment of AI models across consumer electronics, manufacturing equipment and healthcare.
Huang added that local goods could be further promoted through Alibaba’s online shopping and cross-border e-commerce platforms.
Guangdong “has always been a core region” in Alibaba’s strategic development, CEO Eddie Wu Yongming said at the ceremony, pointing to the province’s economic clout, vibrant innovation ecosystem and vast consumer market.
Açık Sorular
- What is the total financial value of the investment?
- What specific timeline has been set for the AI deployments?
