- In The Loop AI
- Posts
- Alibaba chair urges Asia to look beyond US for growth
Alibaba chair urges Asia to look beyond US for growth
Builder.ai founder eyes buyback deal amid insolvency
Algot Persson
May 26, 2025
In Today’s Issue:
Alibaba chair urges Asia to look beyond US for growth
Builder.ai founder eyes buyback deal amid insolvency
Read time: 3 minutes
Alibaba chair urges Asia to look beyond US for growth
Alibaba Chairman Joe Tsai said Asian companies should seek growth through intra-Asia trade and European markets, as US-China tensions continue. Speaking at the Beyond Expo in Macau, Tsai criticized policies that undermine global business ties, alluding to the Trump administration’s trade stance.
Tsai defended Alibaba’s outlook despite weak earnings and recent pressure linked to a rumored AI partnership with Apple. He confirmed the tie-up earlier this year but didn’t clarify exclusivity. Apple has yet to roll out AI features in China, where regulations require a local partner.
Amid falling shares and economic headwinds in China, Tsai highlighted Alibaba’s renewed focus on e-commerce and AI under his and CEO Eddie Wu’s leadership. The company has ramped up AI development, with its Qwen3 model challenging DeepSeek's dominance, as it pivots away from non-core assets to fuel international expansion.
Joe Tsai
Builder.ai founder eyes buyback deal amid insolvency
Sachin Dev Duggal
Sachin Dev Duggal, founder of AI start-up Builder.ai, is exploring a deal to buy the failed company out of insolvency. Duggal, who stepped down as CEO earlier this year but remains on the board, has approached investors about acquiring the firm’s assets or executing a pre-packaged sale. Once valued at over $1 billion and backed by Microsoft and SoftBank, Builder.ai entered insolvency due to past financial missteps. Duggal told investors that less than $10 million would be needed initially, with $25 million required before further funding. The company’s collapse follows an internal probe that uncovered inflated revenue figures and possibly bogus sales. Complicating any buyback, Builder.ai pledged key intellectual property to lenders who recently triggered a $50 million loan default. The company plans to file for insolvency in multiple jurisdictions.
How was today's newsletter? |
Reply