May 18, 2024
Finance

Toyota and Nissan pair up with Tencent and Baidu for China AI arms race

By Daniel Leussink BEIJING (Reuters) -Japan’s Toyota Motor will pair up with China’s Tencent while Nissan will team up with Baidu, the companies said on Thursday, cross-border partnerships that highlight the importance of artificial intelligence for carmakers. The separate announcements from two of Japan’s biggest automakers at the Beijing auto show also underscored the attempt

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Investment

China’s Big Tech firms from Tencent to Alibaba cut external investments further in 2023 amid troubled economy

China’s internet giants from Alibaba Group Holding to Tencent Holdings slashed external investments last year amid an economic slowdown, regulatory headwinds and geopolitical tensions, according to data compiled by a Chinese consultancy. Total investment deals made by Alibaba, Tencent and Baidu plunged by nearly 40 per cent to 102 in 2023, with Tencent – known

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