Amazon's Stock Outlook Brightens Amid Strong Q3 and AI Growth Potential
Analysts are increasing their price target on Amazon following strong performance and positive outlooks for its cloud division, despite previous skepticism.
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Surprise Exit: Former Alibaba CEO Daniel Zhang Quits Cloud Unit
Former Alibaba CEO Daniel Zhang has unexpectedly stepped down as head of the company's cloud division, Alibaba Cloud Intelligence Group, on the same day he was scheduled to hand over the reins of the parent company to co-founder Joseph C. Tsai. The new CEO, Eddie Wu Yongming, has taken over as acting chairman and CEO of the cloud unit. Zhang, who took over as Alibaba CEO in 2015, will remain involved with the company through a technology fund and will be given the title of "Aliren Emeritus". Alibaba plans to spin off Alibaba Cloud Intelligence Group under a separate management team.