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Former Alibaba CEO Daniel Zhang quits cloud in surprise move amid landmark restructuring

11Sep

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Technology

Former Alibaba CEO Daniel Zhang quits cloud in surprise move amid landmark restructuring

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — Daniel Zhang, the outgoing chairman and CEO of Alibaba, has stepped down from his position running the company’s cloud division in a surprise move announced just months after he assumed the pivotal role. Alibaba’s stock tumbled 3% on Monday in Hong Kong following the announcement. Zhang will now fully exit the Chinese tech giant’s core management team as it undertakes its biggest ever restructuring amid a worsening downturn in the world’s second largest economy. Just three months ago, Zhang, 51, said that a ke...

Chuck Schumer to host AI forum with Zuckerberg and Musk among attendees

CNN — More than a half-dozen leading tech CEOs will be among those attending a highly anticipated artificial intelligence event hosted by Senate Majority Leader Chuck Schumer next month, according to the senator’s office. The September 13 event will involve Google CEO Sundar Pichai and former Google CEO Eric Schmidt; Meta CEO Mark Zuckerberg, OpenAI CEO Sam Altman; Microsoft CEO Satya Nadella; Nvidia CEO Jensen Huang; and Elon Musk, CEO of X, the company formerly known as Twitter. It is the first of nine sessions Schumer has said will begin this fall to discuss the hardest questions that regulations on AI will seek to address, including how to protect workers, national security and copyright...

X is ‘close to breakeven’ says CEO Linda Yaccarino

New York CNN — X CEO Linda Yaccarino, leader of the platform formerly known as Twitter, said the company is keeping an eye on new competitor Threads, despite the sharply slowing growth of the rival app from Meta. “Threads did jump in with a ton of hype and a launch pad from their Instagram users … [but] it’s dropped off dramatically,” Yaccarino told CNBC Thursday in her first interview as CEO of the company now called X. “But you can never, ever take your eye off any competition because they’ll continue iterating and as much as the launch has stalled, we’re keeping an eye on everything that they’re doing.” Still, Yaccarino said X remains largely focused on its own future as the comp...