Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
The launch comes as Apple's laptops have been criticized for a keyboard design that users say breaks easily and results in key presses resulting in doubled-up characters or...Tech Driversread more
Craig Irwin of Roth Capital Partners said Apple tried to buy Tesla six years ago for a higher price than where the stock now trades.Technologyread more
The White House has threatened to slap tariffs on apparel and footwear, leading retailers to speak out about how this would hurt business.Retailread more
Connecticut state Sen. Alex Bergstein's divorce case with her husband, Morgan Stanley managing director Seth Bergstein, has exposed her new romantic relationship with her...Politicsread more
Stock pickers are having their best year in a decade, according to Bank of America Merrill Lynch.Marketsread more
Comcast is working on a device to monitor people's health at home, as well as some media and communications services, according to people familiar with the plans.Technologyread more
As shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. Looking to stem the losses, Ascena is turning to...Retailread more
Microsoft is starting to distribute the first of two major Windows 10 updates for 2019. This version has some useful additions.Technologyread more
Chinese e-commerce giant Alibaba announced Wednesday it will invest more than $15 billion over the next three years into a global research and development program to increase collaboration and develop new technologies.
That sum was slightly more than double the total amount Alibaba spent on R&D between 2014 and the fiscal year that ended March 31, 2017.
The program is called the Academy for Discovery, Adventure, Momentum and Outlook — DAMO Academy for short. As part of the program, Alibaba will set up seven research labs in Beijing, Hangzhou, San Mateo and Bellevue in the U.S., Moscow, Tel Aviv and Singapore, and recruit 100 researchers to staff them.
Those labs will undertake projects in areas of data intelligence, Internet of Things, financial technologies, quantum computing and human-machine interaction, including machine learning and Natural Language Processing. They would collaborate with institutions such as the University of California, Berkeley through its RISE Lab.
The program, Alibaba said, will be guided by an advisory board comprising researchers and educators from several top universities, including MIT.
The announcement was made by Alibaba Chief Technology Officer Jeff Zhang at the company's Computing Conference 2017 in Hangzhou, China.
Zhang, who will lead the academy, said in a prepared statement that the research program will be "at the forefront of developing next-generation technology that will spur the growth of Alibaba and our partners."
"We are now looking for talented and driven researchers to join us in the quest for new disruptive technologies that would advance our every-day lives, benefit small businesses and narrow the technology gap to make our world a more inclusive place," Zhang added.
Alibaba said the program will help the tech giant fulfill its long-term commitment to serve 2 billion customers and create 100 million jobs in 20 years.
Experts have previously said that China was moving more into the research and development of hardcore, cutting-edge technologies. In September, investment bank Goldman Sachs issued a report saying the world's second-largest economy has emerged as a major contender in using artificial intelligence to drive progress.