Browsing: Alibaba

Alibaba Group Holding and ByteDance are restructuring their business portfolios, selling off non-core assets in gaming and retail to private equity firms. This strategic shift aims to re-focus substantial reelligence, as competition in the AI sector intensifies across Asia

On August 17, Alibaba Group (NYSE:BABA) agreed to hand its entire stake in game studio Lingxi Games to private equity firm Trustar Capital, a deal a person familiar with the matter says will net the Chinese tech giant more than $2 billion. Bloomberg News pegged the transaction closer to $1.5 billion, and neither side disclosed…

HONG KONG, Aug 17 (Reuters) – Alibaba Group is expected to reap more than $2 billion from the sale of its game developer unit Lingxi Games to private equity firm Trustar Capital, a ‌person familiar with the matter told Reuters.

Alibaba Group is selling its videogame business in a deal worth at least $1.5 billion as the Chinese company shifts its focus to artificial intelligence.

The e-commerce giant is offloading Lingxi Games to private equity firm Trustar Capital, shedding non-core assets to fund its artificial intelligence ambitions.

(Bloomberg) — Alibaba Group Holding Ltd. is selling its gaming arm in a deal worth at least $1.5 billion that will boost the Chinese e-commerce leader’s pivot to AI.