#alibaba

Alibaba, a major China-based e-commerce company, is cutting down jobs in its metaverse department, Yuanjing Shengsheng.

Alibaba's arm, Ant Digital Technologies, has increased the registered capital for two of its blockchain subsidiaries, Ant Chain Digital Technology and Ant Blockchain Technology. The capital infusion exceeded previous amounts by over fifteen times, with the former receiving approximately $289 million and the latter about $200 million.

Shares of Chinese AI company SenseTime fell by 18% following the demise of its co-founder, Tang Xiao'ou. A key figure in establishing SenseTime as a leader in China's AI industry, Tang Xiao'ou had garnered support from major players like Alibaba.

They plan establish 256 servers for validator nodes and initiate a dedicated TON blockchain network for performance testing.

The Chinese artificial intelligence startup Moonshot has successfully completed another funding round, attracting over $300 million and raising the company’s valuation to $3.3 billion. Notable investors include major tech and financial firms such as Tencent, Alibaba, and Gaorong Capital.

The Chinese payment app Alipay, owned by Alibaba, has deployed a new AI feature designed to detect hair loss. This specialized model analyzes uploaded headshots and offers results, including potential medical advice.