Alibaba Sells Lingxi Games for $1.5 Billion

Alibaba Group is selling gaming studio Lingxi Games. As a result of the deal, the company's valuation could exceed $1.5 billion. According to Bloomberg, Lingxi Games will be acquired by Asian investment company Trustar Capital.

According to Zhou Binshuo, CEO of Lingxi Games, Alibaba's decision is linked to allocating more resources to the company's core directions.

Alibaba has recently been undergoing business reorganization, with the company's main focus areas being artificial intelligence and cloud technologies. According to Bloomberg, Alibaba plans to generate $100 billion in revenue from artificial intelligence over the next five years.

The company recently unveiled its own largest AI model, whose capabilities are compared to Anthropic's technology.

Lingxi Games' most well-known product is the multiplayer strategy game Three Kingdoms: Strategy Edition, which was created in collaboration with Japanese Koei Tecmo.

Source: Investing.com