Posted on 10/30/2017 8:46:37 AM PDT by 2ndDivisionVet
Alibaba (BABA - Get Report) co-founder and executive vice chairman Joseph Tsai on Tuesday discussed the future of the Chinese e-commerce giant and how it plans to expand within the U.S.
Alibaba intends to create 1 million jobs in the U.S. through "leverage," efficiently providing access to millions of Chinese consumers, Tsai said at the WSJ D.Live Conference 2017 on Tuesday.
Tsai also laid out the company's plans for expanding its presence within the artificial intelligence space, via his "Cigar theory."
Cigar is the vice chairman's "CUBA" acronym standing for cloud computing, use case, big data, and algorithm. The move is rooted in the fact that the current Chinese cloud market is what it was in the U.S. seven years ago, Tsai noted.
Tsia also stated that Alibaba plans to invest $15 billion over the next three years on R&D.
Shares of Alibaba were lower over 1.3% in midday trading on Tuesday, but shares of the company have surged nearly 100% year-to-date.
Do it, and I’ll become a customer.
For now, I have not been too sure enough about AliBaba (especially with that arabic name) to buy anything from them.
Any one here have any experience?
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