Published: Thu, September 20, 2018
Markets | By Noel Gibbs

China's Alibaba doubles down on chips amid cloud computing push

China's Alibaba doubles down on chips amid cloud computing push

"The trade war will not last for just 20 days or 20 months, but maybe 20 years", Ma said.

The Chinese firm said at an event in Hangzhou on Wednesday that the new subsidiary would make customised AI chips and embedded processors to support the firm's push into fast-growing cloud and internet of things (IoT) businesses.

The founder of Alibaba, (NYSE:BABA) Jack Ma states they are no longer planning on expanding into the United States due to the tension in trade relations between the U.S. and China. "The current situation has already destroyed the original premise".

But Ma told Xinhua that his pledge had been made on the basis of continued cooperation and trade growth between the USA and China, and would now be hard to fulfill.

Seattle Seahawks @ Chicago Bears
The rushing attack also was shut down by Chicago's refurbished defense, finishing with 74 yards on 22 carries. Chicago (1-1) went three and out on the ensuing drive and punted the ball right back to Seattle.

Ma originally pledged to spur job growth by letting American small businesses and farmers sell their goods on Alibaba, which is one of the world's largest online retailers, when he visited then-President-elect Donald Trump early 2017.

A spokeswoman for Alibaba, China's biggest e-commerce company, confirmed Ma's comments to CNN. Ma suggested on Tuesday that in the medium term, production and supply chain elements for Chinese business be shifted to other countries rather than the US.

This week Trump said he would press ahead with 10% levies on US$200 billion of imports - on top of $50 billion already targeted - prompting Beijing to target another $60 billion of United States goods with five to 10 percent taxes.

Earlier on Tuesday, China had retaliated by slapping tariffs on Dollars 60 billion of American products and its state council announced that the new tariffs would be imposed at rates of 5% or 10%, depending upon the product from the same date.

Cathay Pacific spells its own name wrong on side of plane
Another said: "In the age of Trump, just like the rest of us, Cathay Pacific literally has no Fs left to give". After being notified, the Hong Kong-based airline took to social media to share its mistake.

Some experts said Ma's plan to bring 1 million jobs to the USA might have been overly ambitious in the first place.

Ma plans to step down in a year as the company's chairman, and remain on the board through 2020.

"However, the previous basis for trade has been undermined", he said in an interview on Tuesday.

"We should work more in Africa, SEA (South East Asia), Europe", he said.

Elon Musk unveils first tourist for SpaceX 'Moon loop'
Who will fly with the mystery passenger is among the many questions that Musk is likely to address during the announcement. Maezawa said: "I would like to invite six to eight artists from around the world to join me on this mission to the moon ".

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