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Meituan joins China's AI spending race, says investing 'billions' in chips

Daniel Nenni

Daniel Nenni

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43175f94a644e290edd4cc664f806e01

Delivery workers pick up goods of online grocery platform by Meituan in Beijing · Reuters


BEIJING (Reuters) - Wang Xing, CEO of China's largest food delivery firm Meituan, said on Friday in a post-earnings call that the company is pouring "billions" into chips used to train AI models, with more investment planned this year.

The escalated spending and promise of further increases aligns with similar large-scale AI investments by China's other tech giants. E-commerce conglomerate Alibaba announced in February that it would allocated at least 380 billion yuan toward cloud computing and AI infrastructure over the next three years.
(Reporting by Eduardo Baptista; Editing by Sharon Singleton)

 
AI, the gift that keeps on giving. What a wonderful way to honor the hard work of semiconductor professionals. For the majority of my storied career people had no idea how important our work was. Now semiconductors are front page news everyday. :cool:
 
Daniel Nenni said:
AI, the gift that keeps on giving. What a wonderful way to honor the hard work of semiconductor professionals. For the majority of my storied career people had no idea how important our work was. Now semiconductors are front page news everyday. :cool:
Click to expand...

After so many years of underappreciation, do you want to start a meme coin with some catchy names, such as SemiCoin, AI Coin, or EUV Coin?

I would seriously consider not buying them, though. 🙄🙂
 
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