Alibaba Quantum Computing Lab Shut Down in Sign of Broader Cutback
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Alibaba Quantum Computing Lab has been shut down, a sign that the Chinese e-commerce and cloud operator is considering more cutbacks to bulk up the bottom line. Alibaba will donate its equipment to Zhejiang University in Hangzhou, where the company is based, a company spokesperson said Monday. The lab's closure will result in the loss of about 30 staff, some of whom Alibaba may help find positions at the same college, a person familiar with the matter said, asking to remain unidentified discussing private decisions.China's e-commerce leader is in the middle of an overhaul spearheaded by Joseph Tsai and Eddie Wu, two confidantes of co-founder Jack Ma who took over the company in September. This month, the pair announced they were killing the much-anticipated spinoff and listing of...