Ali Baba shifts to AI by selling gaming unit
Alibaba announced a deal to sell its gaming subsidiary, Lingxi Games, to an Asian investment firm for approximately $1.5 billion. This move is part of Alibaba's broader strategy to shift its focus toward artificial intelligence and cloud computing, with the goal of generating up to $100 billion in revenue from AI within five years. Lingxi collaborates with game developer Kwik Tekmo Holdings to produce online strategy games. The deal reflects the company's efforts to reorganize its business and divest non-core assets.
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