Politics
Alibaba says he will recommend hiring, sees signs of the start of the AI bubble in the United States
A sign of Alibaba on an Xuhui district building in Shanghai, China, February 21.Retamal Hector / AFP / Getty Images
The president of the Alibaba group, the president of Baba-N, Joe Tsai, said on Tuesday that the technology giant would recommend hiring, embarked by more confidence after President Xi Jinpings in February with commercial entrepreneurs.
He also expressed his concerns about very great investment announcements in artificial intelligence in the United States, saying that it could be the start of a bubble.
Tsai praised the rare meeting between XI and big names in Chinese technology, including the co-founder of Alibaba, Jack Ma, who marked a distinct approach to Dégel in Beijing in the sector. A regulatory repression on industry four years ago has been able to appetite to investing and led to generalized layoffs.
Reunion was also considered to reflect political concerns concerning slow growth and American efforts to limit technological development in the second economy in the world.
It was a very, very clear signal for the business world which, go ahead, reinvest in your business and also go out and hire people, the HSBCS Global Investment Summit in Hong Kong told Tsai.
He noted that the number of Alibabas leaders had decreased in the last 12 quarters.
So I think we reached the bottom and we were going to start restarting and rehiring.
China’s economy has been assailed by growth growth in recent years, also hampered by a debt crisis in the real estate sector, leading to job insecurity, high unemployment for young people in the country and a low feeling of consumers.
Hiring, however, would lead to good things, said Tsai.
Once you have hired people, it gives people employment safety, law, employment security and income growth that will result in business confidence in consumer confidence, he said.
Guo Shan, partner of Hutong Research, said that private companies like Alibaba were essential to create jobs for Chinas 13 million graduate students each year, given that about a quarter of these graduates generally wanted jobs in IT and internet sectors.
She noted that the success of Deepseek, the Chinese startup that has shaken the AI sector with its low -cost models, was also a boon.
Deepseek and in particular its open source nature have strengthened confidence in the Chinas technology sector and expanded application scenarios so that technological companies will have to hire more for companies anyway, she said.
While Alibaba has invested massively in artificial intelligence, Tsai said that he had been amazed by the type of figures for the United States.
People talk about $ 500 billion, several hundred billion dollars. I don't think it's quite necessary. I think that people are investing before the demand they see today.
He said he thought it was worrying when people started talking about building spect data centers, adding that he saw the start of a kind of bubble.
In comparison, Alibaba plans to invest at least 380 billion yuan ($ 52 billion) in its cloud computing and artificial intelligence infrastructures over the next three years.
Hong Kongs Hang Seng Tech Index, including leading technological companies, including Alibaba, increased by 24% this year, fueled by the XIS meeting with the leaders in the technological sector and excitement compared to deep AI models.
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