15 AI News Shaping Wall Street Today

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2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 115

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese multinational conglomerate that leverages artificial intelligence in its e-commerce business, having recently launched more than a hundred new AI models as part of its AI push.

On November 18, South China Morning Post, a leading news media company that reports on China and Asia, reported that Chinese augmented reality (AR) start-up Rokid has launched a new pair of lightweight smart glasses that employ Alibaba Group Holding Limited (NYSE:BABA)’s large language model (LLM), a technology that supports intelligent chatbots such as ChatGPT. The startup, founded by former Alibaba Group Holding Limited (NYSE:BABA) employee Misa Zhu Mingming, announced the LLM-equipped AR glasses on November 18. The company has chosen Alibaba Group Holding Limited (NYSE:BABA)’s LLM as it has recently been ranked highly in global performance benchmarks. The glasses aim to compete with Meta head-on, eyeing profitability in 2025.

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