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China tech

Alibaba doubles down on smart speakers with $1.41bn investment

China's e-commerce king aims to retain lead in growing market for AI-powered device

Alibaba is keen to retain its lead in China's fast-growing market for smart speakers.   © Reuters

HONG KONG -- Chinese technology conglomerate Alibaba Group Holding announced on Wednesday that it will invest 10 billion yuan ($1.41 billion) in the development of artificial intelligence-enabled smart speakers, a move aimed at cementing its leadership in an emerging and fiercely competitive market.

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