Alibaba (HKG:9988) Chief Executive Officer Eddie Wu Yongming discussed potential collaborations in artificial intelligence with Chongqing party secretary Yuan Jiajun, the South China Morning Post reported Wednesday, citing official media.
Yuan said Chongqing offers "new major opportunities for cooperation" with Alibaba, with the city "seizing the opportunity" to empower itself using artificial intelligence, the Alibaba-owned news outlet said.
The meeting came after the internet giant said it will invest $52 billion in cloud computing and artificial intelligence, the report said.
Shares fell 1% during Thursday's afternoon trading.
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