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Meituan reports robust revenue, profit growth in second quarter on ‘value for money’ approach

China’s largest on-demand service provider Meituan reported on Wednesday a 21 per cent jump in second-quarter revenue, bolstered by steady…

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TikTok owner ByteDance hires prominent talent from start-ups in long-term commitment to AI

ByteDance, the owner of TikTok and its Chinese sibling Douyin, is furthering plans to boost its research capabilities in large…

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Temu owner PDD’s stock rout reflects ‘shaken investor confidence’, analysts say

A 28.5 per cent stock price plunge on Monday that wiped US$55 billion off the valuation of PDD Holdings, the…

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Chinese AI apps eye overseas markets for growth amid tough competition, regulation at home

Chinese artificial intelligence (AI) app developers are increasingly eyeing international users, as the domestic market environment turns too competitive, according…

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Baidu, SenseTime lead China’s market for business-focused large language models, says IDC

Chinese artificial intelligence (AI) giants Baidu and SenseTime, along with start-up Zhipu AI, are the country’s biggest providers of business-facing…

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TikTok owner ByteDance launches new video search tool, eyeing Baidu’s dominance

TikTok owner ByteDance has launched a stand-alone app in China to search for short video content published on Douyin, bringing…

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ByteDance’s CapCut, Doubao top global AI app downloads, outpacing ChatGPT: report

Video-editing app CapCut recorded 38.42 million downloads in July, while chatbot Doubao achieved 27.45 million downloads to outperform OpenAI’s ChatGPT,…

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ByteDance’s low profile founders donate US$28 million to alma mater Nankai University

The billionaire co-founders of TikTok owner ByteDance, Zhang Yiming and Liang Rubo, have made a joint donation to their alma…

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AI demand returns Alibaba Cloud to company growth engine as e-commerce slows

AI investment has boosted the company’s revenue in search and recommendation scenarios, Chen said, and helped increase the frequency with…

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TikTok disputes US claims on China ties in court appeal

TikTok told a federal appeals court on Thursday that the US Department of Justice has misstated the social media app’s…

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