• Alibaba has shifted its focus to artificial general intelligence, or AGI.
• The Chinese tech giant recently reported an 8% rise in quarterly revenue, boosting its stock price.
• Alibaba plans to invest $53 billion in AI and cloud over the next three years as it competes with US tech giants.

Hot stock Alibaba has set its sights beyond AI to focus on artificial general intelligence, or AGI.

"We aim to continue to develop models that extend the boundaries of intelligence," said Eddie Wu, Alibaba's CEO, on Thursday. He called the pursuit of AGI the company's "first and foremost goal."

AGI is AI technology that mimics human intelligence to the point that it can achieve complex cognitive tasks involving logic and reasoning.

US-based companies working toward AGI include OpenAI, Google, Meta, and Microsoft. Masayoshi Son, the CEO of major AI investor SoftBank, said earlier this month that he expects AGI to arrive "much earlier" than his late-2024 forecast of two to three years.

Wu's statement came after Alibaba released blockbuster results on Thursday. For the quarter ending in December, Alibaba posted an 8% rise in revenue, to 280.2 billion yuan, or $38.6 billion. Profit rose to 48.9 billion yuan, beating analysts' expectations.

"The pursuit of AGI can contribute immense business value," said Wu, citing studies indicating that AGI — when achieved — could replace or achieve 80% of human capabilities. He said about 50% of global GDP comes from wages for blue- and white-collar work.

"If AGI can be achieved, then that could have a tremendous impact in terms of the restructuring industry around the world. It could have a significant influence on or even replace 50% of global GDP," he said.

On Monday, Alibaba announced that it's planning to invest at least 380 billion Chinese yuan, or $53 billion, in cloud computing and AI infrastructure over the next three years.

The company is in a crowded global race for AI supremacy.

Chinese tech companies have come into the spotlight following the dramatic rise of DeepSeek, a startup that released a new cost-competitive AI model last month.

The development stoked investor concerns about the massive investment in AI in the West and turned investor focus toward China's tech companies, which have also been investing in AI.

US-listed Alibaba shares are up 70% this year to date, thanks to the boost from DeepSeek and after Alibaba announced that it was working with Apple to incorporate its AI into iPhones in China.

The upswing marks a major turnaround after Beijing's yearslong Big Tech regulatory crackdown, when cofounder Jack Ma's tech empire came under intense scrutiny.

Last week, Chinese leader Xi Jinping met with the country's top tech leaders — including Ma — in a sign that the country's private sector is now back in favor again.

The market is viewing the meeting as a possible end of the crackdown. The Chinese government is seemingly working to revive an economy disrupted by a pandemic, regulatory crackdowns, and a real estate crisis, wrote Deutsche Bank analysts in a note last week following the event.

On Monday, Hong Kong-listed Alibaba shares were 2.5% lower by midday after recent gains and as Asian stocks were broadly pressured by sharp losses in the US markets on Friday.

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Germany's CDU/CSU conservative alliance won Sunday's general election election and the Elon Musk-endorsed far-right, anti-immigration Alternative for Germany (AfD) party came second, preliminary results show.

The big picture: Friedrich Merz, of the center-right Christian Democratic Union (CDU), is set to Germany's chancellor and he's indicated that Europe's biggest economy and the largest EU member intends to move away from the U.S. once coalition talks have concluded.

By the numbers: While preliminary results show CDU/CSU won 28.6% of the vote and AfD 20.8%, the conservative alliance has ruled out working with the anti-immigration AfD, as did all other major parties.

• Outgoing chancellor Olaf Scholz's Social Democrats won 16.4% of the vote and the Greens secured 11.6%, per the preliminary results.

Driving the news: Merz singled out the U.S. in claiming victory, days after Vice President JD Vance accused the Munich Security Conference of not allowing far-right and far-left politicians to attend the annual event in a speech that criticized European allies.

• "My impression over the last few days is that Russia and America are finding common ground — over the heads of Ukraine, and consequently over those of Europe," said the 69-year-old former lawyer Merz, who's previously worked for U.S. law firms, on X.
• "Therefore, everyone is turning their attention to Germany. How quickly are the Germans going to form a government after this complicated election result? For me, this is now a priority."

Zoom in: Merz said on a TV show that his "absolute priority will be to strengthen Europe as quickly as possible so that, step by step, we can really achieve independence from the USA," according to a translation.

• President Trump's statements on Ukraine last week as the U.S. pushes for talks with Russia at the latest make it "clear that the Americans, at least this part of the Americans, this administration, are largely indifferent to the fate of Europe," Merz said.
• "I am very curious to see how we are heading toward the NATO summit at the end of June," he added. "Whether we will still be talking about NATO in its current form or whether we will have to establish an independent European defense capability much more quickly."

What he's saying: Trump on Truth Social called the CDU/CSU win a "great day for Germany," saying: "Much like the USA, the people of Germany got tired of the no common sense agenda, especially on energy and immigration."

• Representatives for the White House did not immediately respond to Axios' request for comment in the evening.

Go deeper: Trump's first month turns U.S. foreign policy upside down

• Uber's CEO wants to work with Tesla on robotaxis. But Tesla wants to go it alone.
• Uber partners with Waymo in Austin and will compete with Tesla's autonomous vehicle platform.
• Analysts suggest Tesla may need Uber or Lyft to scale its robotaxi operations.

Uber's CEO, Dara Khosrowshahi, said he wants to work with Tesla on robotaxis — even though the electric vehicle maker isn't interested right now.

"At this point, they want to build it alone," Khosrowshahi said in an interview with Bloomberg at the Future Investment Initiative conference in Miami on Friday. "Life is long, but we would love to partner with them."

Khosrowshahi added that Uber and Alphabet-owned Waymo, who partner in Austin, will compete with Tesla in the autonomous vehicles market when they launch in the city.

Earlier this month, Uber said it was opening an "interest list" for Austin users who want to be the first to try Waymo robotaxis on the Uber app. Tesla unveiled its robotaxis, called Cybercabs, in October. They are expected to launch in June in Austin.

Khosrowshahi's Friday remarks came about a week after he said that he hoped Tesla would work with Uber.

In an interview published on February 14, Khosrowshahi said, "No one wants to compete against Tesla or Elon, if you can help it."

Door open for Tesla

Musk has previously said Tesla would create its own ride-hailing platform — a cross between Uber and Airbnb apps — for riders to call a driverless car. While a portion of the fleet would be owned by Tesla, individual Tesla customers would also have the option to add their vehicles.

Despite these plans, Khosrowshahi's Friday remarks suggested he was willing to keep the door open for a partnership with Tesla.

"It makes a lot of economic sense" for Tesla drivers to use Uber as a platform, he said. "What we bring is demand to the AV ecosystem when demand often is quite variable."

Analysts have stressed this, too.

In a note published on the day the Cybercab was unveiled, Jefferies analysts wrote that Tesla may struggle without a partner like Uber or Lyft.

Tesla "potentially underappreciates the obstacles to scaling a robotaxi fleet" such as the technology, asset ownership, regulation, fleet management, and demand required to run an operation at scale, the analysts wrote. "We also believe TSLA could struggle to scale fleet operations without offering access to demand via Uber/Lyft."

Independent analyst Dan O'Dowd, a previous Musk critic, said that the contrast between Tesla and robotaxi competitors like Waymo was "stark."

"Until Tesla robotaxis are transporting 100,000 paying customers a week around major American cities like Waymo does, Tesla robotaxi is nothing more than the latest work of fiction to come out of the Warner Bros. Studio," he said in a note at the time.

Investor pressure

Uber has faced pressure from investors to ramp up its autonomous vehicle strategy, and shareholders have been closely monitoring developments with self-driving competitors.

In December, Uber's stock plunged 10% after Waymo announced its expansion to Miami — without mentioning Uber.

In some cities, like Austin, Phoenix, and Atlanta, Waymo rides are only available on the Uber app. In Los Angeles and San Francisco, Waymo is available on its own booking platform.

Days after the Waymo expansion news, Uber's stock fell nearly 6% when its AV partner, Cruise, announced it was shutting down operations.

Following the Cruise news, the ride-hailing platform's chief financial officer, Prashanth Mahendra-Rajah, tried to quell investor concerns. He said the company was well positioned to be a demand aggregator for AVs and that it still believes AVs are critical for its growth.

Besides Waymo, Uber has self-driving partnerships with Tesla's biggest competitor, Chinese EV maker BYD, and with AV company Aurora Innovation.

Uber's stock is up over 30% so far this year.

• The 31st SAG Awards were held at the Shrine Auditorium in Los Angeles on Sunday.
• Many celebrities weren't afraid to show up in bold ensembles, some featuring elements like feathers and fringe.
• Danielle Deadwyler, Demi Moore, and Anna Sawai all wore sculptural gowns that turned heads on the red carpet.

The 31st Screen Actors Guild (SAG) Awards took place on Sunday at the Shrine Auditorium in Los Angeles.

Unlike other awards, such as the Oscars or the Golden Globes —which also honor directors, writers, musicians, and production teams — the SAG Awards are dedicated exclusively to recognizing actors.

Before the ceremony, which was hosted by Kristen Bell, some of Hollywood's biggest celebrities posed for the cameras on the red carpet.

Here are some of the most daring looks from the night.

Danielle Deadwyler

Danielle Deadwyler, who was nominated for best supporting actress for "The Piano Lesson," made a bold statement at the SAG Awards in a custom Louis Vuitton gown.

To complement her look, she wore bright red eyeshadow and matching red pumps.

Cynthia Erivo

Cynthia Erivo made a dramatic entrance in a vintage Givenchy gown designed by Alexander McQueen.

Her dress, made from a textured metallic fabric, featured fringe details at the neckline and sleeves.

Jamie Lee Curtis

Jamie Lee Curtis — who was nominated for best supporting actress for her role in "The Last Showgirl" — channeled showgirl energy at the SAG Awards with her black sequinned gown with a feathered top.

Jane Fonda

Jane Fonda, the recipient of this year's SAG Life Achievement Award, turned heads on the red carpet in a custom Armani Privé dress.

The peach-colored ensemble, which featured a wavy black pattern and a fringe skirt, was a departure from her usual menswear-inspired outfits.

Anna Sawai

Anna Sawai stunned on the red carpet with a custom Armani Privé strapless gown.

Her dress featured red crystals on the front with sheer side panels and a black velvet back.

Timothée Chalamet

Timothée Chalamet, who won best male actor for his role as Bob Dylan in "A Complete Unknown," wore a leather suit with a neon green shirt to the ceremony. To complement his look, he accessorized with a bejeweled bolo tie.

The actor's stylist, Taylor McNeil, seemingly drew inspiration from Dylan himself, posting a reference photo of the musician in a similar outfit on his Instagram story.

Fran Drescher

Fran Drescher, the president of the SAG-AFTRA actors' union, went for a menswear-inspired look.

Drescher rocked a baby pink satin pantsuit at this year's red carpet event — an outfit that looked similar to the one she wore to the 2022 Directors Guild of America Awards. This time around, she opted for open-toed wedges instead of pointed-toe shoes.

Demi Moore

Demi Moore, who won best female actress for her role in "The Substance," wore an edgy, drop-waist Bottega Veneta leather gown.

She styled her long black hair in loose waves and kept her makeup simple, but accessorized with a statement necklace and bracelet from Tiffany and Co.

Carl Clemons-Hopkins

Carl Clemons-Hopkins, known for his role as Marcus on "Hacks," turned heads on the red carpet in a black jumpsuit with oversized sleeves.

Tyler James Williams

Tyler James Williams, who plays Gregory Eddie in "Abbott Elementary," wore a red oversized suit with a cinched waist on the red carpet.

Banita Sandhu

Banita Sandhu, known for her role as Sita Malhotra in "Bridgerton," wore a sculptural metallic dress on the red carpet.