China's Alibaba Doubles Down on Chips Amid Cloud Computing Push

China's Alibaba Doubles Down on Chips Amid Cloud Computing Push

Ma and Trump met in January 2017 to discuss how adding small and medium-sized U.S. businesses to Alibaba's platform would boost employment. "But the current situation has already destroyed that basis. There is no way to deliver the promise", he said.

A spokesperson for Alibaba, the largest e-commerce company in China, confirmed the comments by Ma. Rather, he spoke about trade stimulating by helping small businesses in the USA sell products they have to consumers in both China and other Asian nations.

Ma's comments come on the heels of a new round of tariffs this week from both China and the US that will affect billions of dollars worth of goods as the two countries fail to reach a deal to resolve the Trump Administration's concerns about China's trade practices.

The planned creation of the chip subsidiary is believed to be part of Alibaba co-founder Jack Ma's efforts to help reduce China's dependence on USA technologies.

Instead of helping American small businesses reach Chinese consumers, one of the richest men in China said Alibaba will seek business opportunities elsewhere, mainly in Russia, Europe, South America, and Africa.

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He added: "The trade in the world really needs to be perfected, but trade is not a weapon, it can not be used for war, it should be a propeller for peace". Next year, Alibaba is planning to launch its first self-developed AI chip to support a cloud-based IoT infrastructure.

The academy is the group's global initiative to develop disruptive technologies for its cloud and Internet of Things (IoT) businesses and explore commercial applications in its diverse verticals spanning logistics, materials and pharma, which require greater computing power to achieve technology breakthroughs.

The US has since announced tariffs of up to 25% on Chinese imports worth an estimated $250bn in trade in 2017.

However, he finished by saying that his company would try hard to promote the healthy development of China-US trade. He therefore called upon entrepreneurs to be prepared for a 20-year-long dispute, as it "cannot be solved within two months or two years".

Tensions have escalated this week as China vowed to retaliate against USA plans to levy tariffs on about $200 billion in Chinese goods. Customers, he mused, will take the place of factories and enterprises to become trade's new driving force.

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