Wall Street Breakfast Alibaba bets $52B on AI, cloud
Feb 24, 2025
Alibaba is making waves with a staggering $52 billion investment in AI and cloud infrastructure, aiming to dominate the tech arena. In a significant shift, Prosus is acquiring Just Eat Takeaway for €4.1 billion, reshaping the food delivery market. Meanwhile, Shein faces challenges as its profits plummet nearly 40%, stirring discussions about its upcoming IPO. The podcast also highlights a major crypto heist, with $1.5 billion stolen, raising eyebrows about security in the digital space.
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Alibaba's AI Focus
- Alibaba is heavily investing in AI and cloud infrastructure to compete with US and European rivals.
- This investment surpasses their total AI/cloud spending over the past decade.
Prosus Acquires Just Eat Takeaway
- Prosus will acquire Just Eat Takeaway for €4.1B, a 22% premium over its recent peak price.
- Just Eat Takeaway operates in 17 markets and had a positive adjusted EBITDA in 2024.
Shein's Profit Drop
- Shein's 2024 profits dropped by almost 40% to $1B due to competition and a weak final quarter.
- This comes as Shein prepares for a London IPO, potentially at a reduced valuation.