Juro Osawa

Alibaba Group’s net profit fell 27% in the quarter through June, as revenue from its commerce operations for consumers in China declined.The e-commerce giant, whose marketplaces charge sellers for marketing and other services, said revenue from its “China commerce retail” business, which includes its Taobao and Tmall shopping sites, fell 2% in the quarter. Alibaba’s overall revenue rose 4%,

Walmart has sold its stake in Chinese e-commerce platform JD for $3.6 billion, Bloomberg reported, eight years after the American retail giant made the investment as part of a strategic partnership that let Chinese consumers buy Walmart products on JD.Walmart sold 144.5 million JD shares for $24.95 apiece, a discount to Tuesday’s close of $28.19 for JD’s Nasdaq-listed stock,

Coatue founder, Philippe Laffont, at The Information Private Capital Conference in April. Photo by Nicole Pereira.

Intel and investment banks are discussing strategic options aimed at turning around the U.S. chip giant’s struggling business, Bloomberg reported.Intel, which reported a net loss of $1.6 billion for the second quarter, is exploring various scenarios including a split of the company’s product design and manufacturing operations, and Morgan Stanley and Goldman Sachs are providing advice,

Philippe Laffont at The Information's Private Capital Conference in April. Photo by Nicole Pereira/The Information.

Broadcom CEO Hock Tan said a long-term trend in the artificial intelligence chip industry is that “hyperscalers"—the biggest cloud providers and other tech giants operating huge platforms—are all moving toward creating their own custom chips. If such a trend accelerates, Broadcom, which helps tech giants like Google and Meta Platforms design custom AI chips, could become more competitive against

Until Julie Gao joined ByteDance as chief financial officer two years ago, she was one of the highest-profile initial public offering lawyers in Asia. Over the course of 20 years, she helped take public a succession of Chinese tech giants, including JD.com, Temu parent PDD Holdings and Meituan.

Screenshot from viral AI-generated video of Gordon Ramsey made on Hailuo. Photos via YouTube/Adobe.

TikTok parent ByteDance increased its international revenue more than 60% to about $17 billion in the first half of 2024, according to two people with knowledge of the financial results. As TikTok accounts for most of ByteDance’s revenue outside China, the growth suggests that TikTok’s advertising and other businesses have remained strong despite the threat of a U.S. ban.

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