
Alibaba Cloud to Start Second Data Center in South Korea by June
Alibaba Group Holding Ltd. will open a second data center in South Korea by the end of June, accelerating its multibillion-dollar bet on artificial intelligence and cloud computing.
The new facility is part of a 380 billion yuan ($52.9 billion) investment in AI and cloud infrastructure announced earlier this year, an Alibaba spokesperson said. The expansion comes in response to growing demand from South Korean businesses for cloud and AI services, the company said in a statement Thursday.

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Yahoo
14 minutes ago
- Yahoo
China's extended 618 shopping fest fails to stir excitement
By Sophie Yu and Casey Hall BEIJING (Reuters) -China's biggest mid-year shopping festival, 618, ended on Wednesday evening without much fanfare after more than a month of promotional events aimed at enticing consumers to part with more of their hard-earned money. Originally a single-day celebration marking the founding of e-commerce giant on June 18, the festival has expanded to include all e-commerce platforms with ever-lengthening sales periods. This year, presale for and Alibaba kicked off on May 13, making the shopping festival longer than a month. China's retail sector continues to struggle due to concerns over employment stability, stalled wage growth and the ongoing property crisis, leaving shoppers in no mood to splurge. Retailers and the government have sought to lift subdued spending by deepening discounts and expanding consumer subsidies. Though extending the sales period is likely to help overall sales growth for this year's 618 period, analysts say, longer festivals and year-round discounts on e-commerce platforms have dampened excitement for these kinds of events. "I don't have anything special to buy during the 618 shopping festival. Because there are always great deals, I can buy whatever I need whenever," said Xu Binqi, who works in Beijing's film industry. "Take skincare products as an example, I buy them whenever I run out, and the prices are no higher than during the 618 festival." Rachel Lee, general manager of market research firm Worldpanel China and co-author of Bain & Co.'s recent China Shopper Report, said that when consumers are budget-conscious, they seek affordable alternatives, and discounts play a lesser role. "Standalone promotional discounts will find it increasingly difficult to drive volume growth," she said. Major e-commerce platforms have not disclosed overall sales figures for 618 in recent years, but according to data provider Syntun, sales during the mid-year festival last year fell for the first time in 2024, down 7% at 742.8 billion yuan ($103.31 billion) from the year before. This year, said the number of users placing orders for the 618 event has more than doubled year-on-year, with over 2.2 billion orders across its online, offline and food delivery platforms. Alibaba said that 453 brands surpassed 100 million yuan ($13.91 million) in gross merchandise volume (GMV) over the 618 period. Brands that surpassed 1 billion yuan in GMV included Apple, Xiaomi, Huawei, Nike, Adidas, L'Oréal and Lululemon, Alibaba added. GMV is a metric used by e-commerce companies roughly analogous to sales revenue. RETAIL GROWTH, SUBSIDY IMPACT While the retail environment in China remains difficult, there are signs that consumption overall has picked up in recent months. Retail sales growth surpassed expectations in May, with official data showing a 6.4% increase, the fastest growth since December 2023. Analysts pointed to the earlier start of 618, along with government consumer subsidies for goods such as home appliances and mobile phones, as twin drivers. Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, said the extended 618 festival front-loaded consumer demand, encouraging earlier spending and smoothing consumption trends into May. "A longer 618 festival with low prices helps sustain engagement across weeks and has contributed materially to May's strong retail performance," Cooke said. Analysts warn that a pause in subsidy programmes in several regions, as central government allocations dry up, could weigh on 618 sales and overall consumption this month, though more funds are likely to be allocated for those programmes in July. "Rapid sales growth of key subsidy categories (such as home appliances) driven by the 618 shopping festival starting from quickly depleted funds," HSBC analysts wrote in a note. "Suspension of national subsidies in selected regions may affect 618 sales and June retail sales" the analysts added. Eve Wang, 32, reflected on the shift in spending habits: "In the past, for example during events like Singles' Day and 618, I used to spend a lot of money on stockpiling goods, but now ... I only buy what I need." Wang didn't participate in this year 618 shopping festival. "I didn't buy anything at all." ($1 = 7.1897 Chinese yuan) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
- Yahoo
Amazon's bleak job update exposes major AI warning for Aussie workers: 'Will reduce'
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Fast Company
36 minutes ago
- Fast Company
AI users have to choose between accuracy or sustainability
PREMIUM New research shows the smarter and more capable AI models become, the larger their environmental impact. [Images: hramovnick/Adobe Stock; yLemon/Adobe Stock] BY Listen to this Article More info 0:00 / 2:38 Cheap or free access to AI models keeps improving, with Google the latest firm to make its newest models available to all users, not just paying ones. But that access comes with one cost: the environment. In a new study, German researchers tested 14 large language models (LLMs) of various sizes from leading developers such as Meta, Alibaba, and others. Each model answered 1,000 difficult academic questions spanning topics from world history to advanced mathematics. The tests ran on a powerful, energy-intensive NVIDIA A100 GPU, using a specialized framework to precisely measure electricity consumption per answer. This data was then converted into carbon dioxide equivalent emissions, providing a clear comparison of each model's environmental impact. The researchers found that many LLMs are far more powerful than needed for everyday queries. Smaller, less energy-hungry models can answer many factual questions just as well. The carbon and water footprints of a single prompt vary dramatically depending on model size and task type. Prompts requiring reasoning, which force models to 'think aloud,' are especially polluting because they generate many more tokens. One model, Cogito, topped the accuracy table—answering nearly 85% of questions correctly—but produced three times more emissions than similar-sized models, highlighting a trade-off rarely visible to AI developers or users. (Cogito did not respond to a request for comment.) 'Do we really need a 400-billion parameter GPT model to answer when World War II was, for example,' says Maximilian Dauner, a researcher at Hochschule München University of Applied Sciences and one of the study's authors. advertisement The final deadline for Fast Company's Next Big Things in Tech Awards is Friday, June 20, at 11:59 p.m. PT. Apply today. Subscribe to see the rest. Already Subscribed? Login. GET UNLIMITED ACCESS TO FAST COMPANY Enjoy the latest trends from the world-leading progressive business media brand just $1 Join for $1 Sign up for our weekly tech digest. SIGN UP This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Privacy Policy ABOUT THE AUTHOR Chris Stokel-Walker is a contributing writer at Fast Company who focuses on the tech sector and its impact on our daily lives—online and offline. He has explored how the WordPress drama has implications for the wider web, how AI web crawlers are pushing sites offline, as well as stories about ordinary people doing incredible things, such as the German teen who set up a MySpace clone with more than a million users. More Explore Topics Artificial Intelligence