Story
Ant Group Consolidates Alipay Units, Appoints Wu Minzhi as President in AI Push
Ant Group is undertaking a significant organizational restructuring, consolidating three core divisions into a new, unified Alipay Business Group. The move, aimed at accelerating the company's push into AI-powered commerce, places executive Wu Minzhi at the helm as president of the new group.
Strategic Reorganization
In an internal letter on September 21, Ant Group CEO Han Xinyi announced the merger of the following units:
- The Alipay Business Group
- The Digital Payment Business Group
- The Zhima Credit business unit
These divisions will now operate as a single entity under the new Alipay Business Group. Wu Minzhi, who will lead the consolidated group, will also continue in her role as Ant Group's Chief People Officer (CPO).
Focus on AI-Powered Commerce
AdThe restructuring is a key part of Ant Group's strategy to advance in what it calls "intelligent agent commerce." According to Han's letter, the new structure is designed to pool technology, product, and ecosystem capabilities to respond more quickly to market shifts.
The stated goal is to empower merchants to better serve customers and drive growth through Alipay's AI open platform. Han emphasized that this will make the ecosystem more convenient, secure, and trustworthy in the era of artificial intelligence.
Reversing a Previous Split
This consolidation marks a shift from a structure implemented less than a year ago. In December 2023, Ant Group split its operations into two distinct business groups—Digital Payment and Alipay—as part of its "AI First" strategy.
That earlier move also introduced a six-month rotating president system for the two divisions. The latest announcement reverses this separation, bringing the key functions back under a single leader to streamline its strategic execution in the competitive AI landscape.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.