Alibaba sells Lingxi Games to focus on AI and cloud
Business
Alibaba is letting go of its gaming unit, Lingxi Games, in a deal worth at least $1.5 billion with Trustar Capital.
This move is all about streamlining. Under CEO Eddie Wu, Alibaba wants to put more energy into artificial intelligence and cloud computing.
Lingxi's CEO Zhou Bingshu said the sale lets it zero in on its own big-picture goals.
Lingxi co-created 'Three Kingdoms' hit
Lingxi Games made a name with the hit Three Kingdoms: Strategy Edition, co-created with Koei Tecmo.
But now, Alibaba is betting big on AI, hoping to hit $100 billion in AI revenue over five years and has recently launched an advanced AI model it says rivals industry leaders.
Selling Lingxi frees up resources so Alibaba can double down on what's next in tech.