News summary
Alibaba invests in artificial intelligence company for US$800 millionlootrushcrypto, received 36% preferred stock.
Newsletter text
[Alibaba invested heavily in the dark side of the month, buying a 36% stake for US$800 million]
According to an exclusive report from Shell Finance, on May 23, Alibaba announced in its fiscal year 2024 earnings report that it would invest approximately US$800 million in artificial intelligence startup Moonshot AI. This large investment made Alibaba a preferred shareholder in the dark side of the month, holding approximately 36% of the equity.
Alibaba's injection of funds not only demonstrates its firm confidence in the future development of the artificial intelligence field, but also its accurate judgment of start-ups in investment decisions is worthy of attention.