Crispr Therapeutics shares tumble after significant earnings miss
Investing.com -- Alibaba (NYSE:BABA) Group’s chairman Joe Tsai has confirmed the company’s collaboration with Apple (NASDAQ:AAPL) to develop and launch artificial intelligence (AI) features for iPhones in China.
According to Tsai, Apple had discussions with several companies in China before deciding to partner with Alibaba. The tech giant intends to use Alibaba’s AI technology to enhance the capabilities of its smartphones.
The announcement of this partnership, which was made at the World Governments Summit in Dubai, comes in the wake of reports that Apple had recently submitted AI features for China, developed in collaboration with Alibaba, to the country’s cyberspace regulator for approval.
Market reaction to the news was positive, with Alibaba’s stock price rising by 8.5% on Wednesday.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.