Apple is partnering with Alibaba to integrate AI into iPhones sold in China, Alibaba Chairman Joe Tsai announced. The news sent Alibaba’s Hong Kong-listed shares up over 9% to a three-year high. Apple chose Alibaba’s AI after evaluating multiple companies. This move comes as Apple faces declining iPhone sales in China, where competition from local brands like Huawei and Vivo is growing. Apple’s market share in China fell to 15% in 2024, ranking third. Alibaba’s AI division has gained investor confidence, with its stock rising over 40% this year, boosted by the release of its Qwen 2.5 AI model.
Source: CGTN
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