Alibaba (BABA) and Baidu (BIDU) have started using internal chips for their artificial intelligence models, partly replacing AI chips made by Nvidia (NVDA), Qianer Liu of The Information reports, citing four people with direct knowledge of the moves. U.S. export controls have reduced the power of the chips that Nvidia could sell in the Chinese market, the website points out. Chinese business is likely to shrink more than it already has, The Information predicts.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BABA:
- ‘We Love You China’: Don’t Tell Donald but U.S. Investors are Flocking to Rampant Chinese Stocks
- Bullish flow in Alibaba with shares up 4.51%
- Alibaba Stock (BABA) Sinks on $3.2B Convertible Notes Offering
- Why Alibaba (BABA) Stock Got a Price Target Boost from Jefferies’ Top Analyst
- Alibaba offers to sell $3.2B in zero-coupon convertible senior notes due 2032