Alibaba Group Chairman Joe Tsai confirmed on Thursday that the company was partnering with Apple to roll out AI for iPhones sold in China. He was speaking at the World Governments Summit in Dubai.
″[Apple] talked to a number of companies in China, and in the end, they chose to do business with us. They want to use our AI to power their phones,” Tsai said.
The partnership was first reported by tech-focused news organization The Information on Tuesday, triggering a jump in Alibaba and Apple shares.
Hong Kong-listed shares of Alibaba surged on Thursday to hit their highest level since 2022 during the intraday session before paring the gains, last up 2.5%.
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