Alibaba to build AI chip for self-driving cars

Alibaba chairman Jack Ma and Apple CEO Tim Cook

Alibaba chairman Jack Ma and Apple CEO Tim Cook

Jack Ma, the founder and chairman of Chinese tech giant Alibaba, says the ongoing conflict means his company is no longer able to honor a pledge to create one million American jobs. "The situation now has completely destroyed our premise, so it can no longer be completed".

"The promise was made on the premise of friendly US-China partnership and rational trade relations..."

Speaking at an investor day conference in Hangzhou, Ma said China should focus on strengthening its economic ties with countries in Southeast Asia and Africa, and depend less on the U.S.in order to deal with the trade dispute.

The billionaire owner of China´s largest online shopping portal made the headline-grabbing promise to Donald Trump past year, as Beijing courted the then-newly elected president.

Internet of Things (IoT) sensors installed in cities to collect traffic data - such as under Alibaba's "City Brain" programme - can also be utilised by driverless vehicles to increase operational accuracy, said a company official working on the technology.

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China responded a day later with tariffs on about $60 billion worth of USA goods as previously planned, but reduced the level of tariffs that it will collect on the products.

Alibaba has established a quantum computing laboratory now proceeding with 81-bit random quantum network simulation, and plans to release standard quantum chips in the next 2-3 years, Zhang was cited as saying.

Ma told Xinhua he believes trade should never be used as a "weapon".

On Monday, Trump announced that the United States would impose 10 per cent tariffs on an additional US$200 billion worth of Chinese products from September 24, with the tariff rate increasing to 25 per cent on January 1 next year unless China makes concessions.

Ma plans to step down in a year as the company's chairman, and remain on the board through 2020. The 54-year-old former teacher repeated his desire to pursue a new career, likely in the field of education. Customers, he mused, will take the place of factories and enterprises to become trade's new driving force.

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