SoftBank Group Corp. reported a surge in quarterly profit due to valuation gains on its OpenAI investment, boosting confidence at the Japanese company to bet even more on the ChatGPT maker.

Alibaba Group Holding Ltd. posted its first operating loss since the depths of the Covid pandemic, underscoring the extent to which China’s e-commerce leader is spending on the AI initiatives it hopes will power its next phase of growth.

Ant Group Co.’s quarterly profit continued to decline after the company increased investment in artificial intelligence technology for its health care, large language model and payment services.

Renewable energy manufacturer Jinko Solar Co.’s recent decision to sell control of its Florida facility extends a multi-billion retreat from the US by China’s clean technology firms, as they contend with an increasingly hostile policy environment and the potential loss of Biden-era incentives.

The US Army is fast-tracking a partnership with the defense startup Castelion as it looks to catch up with Russia and China in deploying hypersonic missiles after years of delays and high costs involving other contractors.

Blackstone Inc. has walked away from a proposed $4 billion tie-up with New World Development Co. after the embattled property developer refused to hand over the reins, people familiar with the matter said.