Alibaba Invests in MoonshotAI in 2024 Fiscal Year
TapTechNews May 24th news, as disclosed in Alibaba's financial report, the company has invested a total of about 800 million US dollars (TapTechNews note: currently about 5.9 billion yuan) in the artificial intelligence startup MoonshotAI in fiscal year 2024 and purchased about 36% of the equity, which is a preferred stock investment in MoonshotAI.
Jack Ma, chairman of the Alibaba Group, and Wu Yongming, the chief executive officer, wrote in the shareholder letter that the company regards AI as the most powerful variable to change and accelerate business growth.
This shareholder letter stated that in the past 25 years, Ali has experienced continuous growth and also shown some symptoms of big company disease. Next, the company will actively operate on the big company disease and maintain the entrepreneurial spirit. In the next 10 years, we will once again see ourselves as a startup, adhering to the original aspiration of'making it easy to do business anywhere' and continuously innovating with the entrepreneurial spirit. We will uphold long-termism, make choices for today and invest for tomorrow.
The official website of MoonshotAI shows that the company was founded in March 2023 and is committed to seeking the best solution to convert energy into intelligence, creating intelligence through products and users. In October 2023, it launched the world's first intelligent assistant product Kimi that supports inputting 200,000 Chinese characters. The core members of the founding team participated in the R & D of multiple large models such as Google Gemini, Google Bard, Pangu NLP, and Enlightenment, and many core technologies have been adopted by mainstream products such as Google PaLM, Meta LLaMa, and Stable Diffusion.
In fiscal year 2024, the revenue of the Alibaba Group increased by 8% year-on-year to 941.168 billion yuan. Among them, the revenue of Taotian Group was 434.9 billion yuan; the revenue of the Ali International Digital Business Group exceeded 100 billion yuan, an increase of 46% year-on-year, and the revenue of the Cainiao Group increased by 28% year-on-year.