ALIBABA

Chinese giant Alibaba to develop artificial intelligence chips

"We announced today the creation of the company, but we have been preparing it for five years," said Ma, who revealed that he will retire as president of the group in a year.The entrepreneur announced the launch of the company, which will be part of Alibaba, during his speech at the Annual Meeting of New Champions known as 'Summer Davos' in Tianjin, northern port city of China.Jack Ma stressed on other occasions that it is important for any country to have chip-making companies in order to avoid disadvantages if the United States forbids the export of that technology."We need to anticipate the problems of the future," he said.The establishment of the company, named Pingtouge ("Texugo", in Portuguese), due to the perseverance of that animal in adverse conditions, arises at a time of commercial war between Beijing and Washington.US President Donald Trump announced a second round of customs duties on products imported from China this time out of a total of $ 200 billion."We are not happy about US-China trade relations," said Ma, who on Wednesday announced that he had abandoned his plan to create one million jobs in the United States.The Chinese businessman explained that that commitment was made on the basis of "friendly cooperation" between Beijing and Washington, and on the premise of a "friendly and fair" bilateral trade, which ceased to exist.On the impact of the trade war on the Chinese economy, Ma urged entrepreneurs to draw up a 20-year plan.The entrepreneur explained that when economic prospects are adverse, they create great companies with good ideas, while when conditions are favorable, companies are mediocre.At the center of the China / US trade war is Beijing's policy for the technology sector, including the "Made in China 2025" plan to turn the country into a technological powerhouse with capabilities in high value-added sectors such as artificial intelligence, renewable energy, robotics and electric cars.The US considers that the Chinese-led plan violates China's commitments to open up its market, notably by forcing foreign companies to transfer technology and subsidizing domestic enterprises while protecting them from foreign competition.



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