Updated: Sep 20, 2018, 04:20 PM IST

Jack Ma announces new company to create AI chips to compete with US

Chinese business magnate Jack Ma, executive chairman of the Alibaba Group, announced Thursday the creation of a company within the group that will be dedicated to the manufacture of artificial intelligence chips, a sector led so far by American companies. Ma used the opportunity of his speech at the World Economic Forum summit in Tianjin (considered the Summer Davos) to announce the launch of this new company, which he has named "Pingtouge" which translates as honey badger, an animal with which Ma identifies owing to its perseverance in adverse conditions, he said.