Alibaba CEO Takes Helm of New AI-Focused Business Group

Reuters

03/16

SHANGHAI, March 16 (Reuters) - Alibaba Group Chief Executive Eddie Wu will head the newly ‌formed Alibaba Token Hub (ATH) Business Group, the firm said in a statement on Monday.

The new group ⁠will comprise existing Alibaba units Tongyi Laboratory, MaaS Business Line, Qwen Business Unit, Wukong Business Unit, and AI Innovation Business Unit.

US-listed Alibaba shares rose 2.5% in premarket trading.

Alibaba said its mission would be ‌to "create, ⁠deliver, and apply tokens," and it would focus on building AI-native work platforms for ⁠enterprises.

The move comes weeks after Alibaba's Qwen AI model division head, ⁠Lin Junyang, announced his departure, becoming the third ⁠senior Qwen executive to exit this year.

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