Alibaba buys Chinese chipmaker to aid IoT biz
Alibaba buys Chinese chipmaker to aid IoT biz, help drive local chip sector. E-commerce titan Alibaba Group Holding has bought a Chinese microchip maker to further its cloud-based “internet of things” (IoT) business, underscoring its commitment to the chip industry, an Alibaba spokeswoman said on Friday.
The announcement comes days after the United States banned American firms from selling chips and other components to Chinese telecoms company ZTE for 7 years, a move that rekindled discussion in China about the need for self-sufficient tech supply chains. Read more here.
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