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

COCO LIU, Nikkei staff writer

May 20, 2020 20:39 JST

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.