JD.com Sells Cloud and AI Business to JD Digits
Posted on 04/01/2021
China’s JD.com, Inc. has sold its cloud and artificial intelligence businesses valued at a combined 15.7 billion yuan ($2.4 billion) to its fintech unit JD Digits (Jingdong Digits Technology Holding Co., Ltd.). Upon completion of this transaction on March 31, 2021, the JD.com’s equity interest in JD Digits increased to approximately 42% by buying the latter’s ordinary shares. JD.com believes that the deal will enable the company to continue to focus on its core competences and synergistic businesses to better serve customers.