Alibaba Group Holding Limited (BABA)

Alibaba emerges as major backer of high-flying Chinese start-up Moonshot AI, with 36% stake

Alibaba Group Holding has emerged as a major backer of Moonshot AI, one of China's hottest artificial intelligence (AI) start-ups, holding a 36 per cent stake in the firm, according to the e-commerce giant's annual report. Alibaba has "invested a total of approximately US$0.8 billion (about RMB5.9 billion) for an approximately 36 per cent equity interest" in Moonshot AI in the past fiscal year 2024, the company said in its annual report filed with the Hong Kong stock exchange on Thursday. That v