Bloomberg Tech Alibaba Shares Soar, Scott Bessent's Musk Relationship
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Feb 20, 2025 
In this engaging discussion, Ernest Garcia, CEO of Carvana and notable figure in the used car industry, offers insights into the challenges facing his company amidst declining vehicle profit margins. He shares his thoughts on the impact of evolving tech dynamics and customer experience in the automotive market. The conversation also covers Alibaba's impressive stock surge driven by AI innovations, while exploring Elon Musk's key influence on contemporary business and technology, highlighting transformative shifts in the industry.
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Alibaba's Success
- Alibaba's strong earnings are driven by AI demand and e-commerce rebound.
- Cloud computing grew 13%, and e-commerce improved due to increased fees.
Invest in AI
- Invest in AI infrastructure to keep the momentum going.
- Focus on Artificial General Intelligence (AGI) as the primary objective.
DeepSeek's Impact
- DeepSeek's emergence has not changed AI investment strategies, but rather accelerated them.
- DeepSeek has increased demand for cheaper AI solutions by increasing productivity.