Newland Digital Technology (SHE:000997) subsidiary Guotong Xingyi signed a strategic cooperation framework agreement with Alibaba Cloud to jointly develop artificial intelligence-driven products and industry standards.
The two parties will collaborate on AI large models and public cloud services in payment scenarios such as marketing and risk control, according to a Tuesday filing with the Shenzhen bourse.
Alibaba Cloud is a division of Alibaba Group (HKG:9988).
Shares of the digital payments company's revenue closed more than 2% higher Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.