Alibaba Joins Forces with RayNeo for AI Glasses Innovation

Hong Kong-listed Alibaba Group Holding Limited (HK:9988) has joined forces with AR brand RayNeo for an exclusive strategic partnership in the AI (artificial intelligence) glasses segment. The partnership marks the first major collaboration in China between a large AI cloud model and a hardware manufacturer of AI glasses for a detailed customization.

RayNeo is a leading company in AR innovation and operates as a subsidiary of Thunderbird Innovation. Meanwhile, RayNeo is incubated by Hong Kong-based TCL Electronics (HK:1070). The company creates some of the most groundbreaking AR hardware, software, and applications for consumers worldwide.

Alibaba Ventures into AI Glasses Market

With this deal, Alibaba Cloud has marked its entry into the AI glasses market. Under this partnership, Alibaba Cloud Tongyi series large models will offer comprehensive AI technology and product support for RayNeo’s AI glasses.

Additionally, both companies have pledged to collaborate on research and development, pooling resources and expertise in cloud computing, AI hardware, and other fields to strengthen their partnership. Moving forward, the parties will also collaborate on customizing and developing features based on the real-world use cases of the glasses.

Li Hongwei, founder and CEO of Thunderbird Innovation, stated that the partnership with Alibaba Cloud is just the beginning for both companies. Furthermore, Thunderbird Innovation is confident in Alibaba’s future dominance in large cloud models and its commitment to make user-focused investments in AI and AR glasses.

Is Alibaba Stock a Good Buy Now?

On TipRanks, 9988 stock has received a Strong Buy rating from analysts based on four Buy recommendations. The Alibaba share price target is HK$130.17, which implies a growth rate of 58% on the current trading price.

See more 9988 analyst rating

Disclosure