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US$1b windfall: how Meituan’s bets on AI, robotics outshine quarterly loss
Original from SCMPTech: US$1b windfall: how Meituan’s bets on AI, robotics outshine quarterly loss

US$1b windfall: how Meituan’s bets on AI, robotics outshine quarterly loss

Meituan, the Chinese food-delivery giant, is poised to benefit significantly from its investments in emerging technologies, particularly in the rapidly growing artificial intelligence sector, including a stake in Zhipu AI. This development comes at a crucial time for the company, which reported an adjusted net loss of 4.97 billion yuan (approximately US$735 million) for the first quarter of 2023, marking its third consecutive quarter of losses. The strategic investments are seen as a potential lifeline for Meituan, aiming to enhance its financial performance and stabilize its market position. The company’s focus on frontier tech reflects a broader trend in the industry, as firms seek to leverage innovative solutions to drive growth and profitability amidst challenging economic conditions.

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