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Whispering in the ears of the billionaires and celebrities doing the buying, however, are investment bankers. Like other sports bankers BI interviewed for our list of top sports bankers, he exemplified a good-humored, approachable attitude, including joking about his many sports allegiances. Related stories"Earlier in my career, I made the mistake of telling Bob Kraft that I was a New York Jets fan," Carey told BI recently. They're obsessive Jets fans, and they're just fans because I'm a Jets fan," Neville told BI. So that's why we'll be Jets fans forever."

Persons: it's, Goldman Sachs, Greg Carey, everyone's, Carey, Colin Neville's, he's, David Beckham, Steve Ballmer, Joe Tsai, Ballmer, Tsai, Neville, Andrew Kline, Kline, Bob Kraft, I'm, Robert Tilliss, There's, Abramovich, Vladimir Putin, Todd Boehly, Joe Lenehan, Michael Arougheti, David Rubenstein's, doesn't, there's Organizations: NBA, JPMorgan, Business, The, PJT Partners, Chelsea FC, Baltimore Orioles, Sports, Goldman, Endeavor, WWE, Microsoft, Beckham's, Los Angeles Clippers, Brooklyn Nets, Barclays Center, St, Louis Rams, Los Angeles Rams, Golden State Warriors, Miami Heat, Harvard, US Rugby National, Cal, New York Jets, BI, Patriots, Giants, Rays, Chelsea, Circle, Atlanta Hawks NBA, New York Mets, NFL, soccer's Premier League, Russian, Chelsea football, LA Dodgers, Yankees, Manchester United Games, Jets, we'll Locations: European, Los Angeles, Berkeley, Barcelona, Ukraine, New York

☆ Baidu says its ChatGPT-like Ernie bot exceeds 200 million users
▼ + stars: | 2024-04-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. Florence Lo | ReutersSHENZHEN — Baidu CEO Robin Li said Tuesday the company's ChatGPT-like Ernie bot has exceeded 200 million users. Li, who is also co-founder and chairman of Baidu, was delivering an opening speech titled "Everyone is a Developer" at Baidu's AI Create conference. Smartphone companies Samsung and Honor have integrated Ernie's AI capabilities with certain mobile devices. Li said in February that Baidu's AI chip reserve "enables us to continue enhancing Ernie for the next one or two years."

Persons: Florence Lo, Robin Li, Ernie, Li, Joe Tsai Organizations: Baidu, Reuters SHENZHEN, Samsung, Norges Bank Investment Management Locations: Beijing, China

☆ Jack Ma is praising Alibaba. Wall Street is more cautious
▼ + stars: | 2024-04-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Alibaba shares got a boost last week from news founder Jack Ma is pleased with the company's turnaround so far. They cut their price target to $100 a share, down from $105 previously, while maintaining an overweight rating. Eddie Wu became CEO of Alibaba in September, and is also acting head of the cloud business. They cut their price target by $1 to $105 a share and maintained their buy rating. They have a price target of $85, and, in contrast to the many buy ratings, rate the stock equal weight.

Persons: Jack Ma, Joe Tsai, Ma, Alex Yao, Tsai, Nicolai Tangen, We've, Eddie Wu, Trudy Dai, Daniel Zhang, Kenneth Fong, Douyin, Nomura, Doubao, Ernie, Qianwen, monetization, Morgan Stanley, Gary Yu, — CNBC's Michael Bloom, Arjun Kharpal Organizations: CNBC, Wall Street, JPMorgan, Norges Bank Investment, Alibaba, Commerce, UBS, PDD Holdings, Norges Bank Investment Management Locations: China, U.S, Taobao, BABA

☆ Jack Ma sends longest memo to Alibaba employees in 5 years
▼ + stars: | 2024-04-10 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Jack Ma has some words of encouragement for Alibaba Group employees. AdvertisementAlibaba employees received a rare memo from cofounder Jack Ma, and the message was motivational. Ma spent years out of the public eye but resurfaced with some appearances and quiet business moves in 2023. His most recent venture into the spotlight is a long message shared to employees on an internal Alibaba forum, Reuters reported. This story is available exclusively to Business Insider subscribers.

Persons: Jack Ma, —, Ma, Eddie Wu, Joe Tsai Organizations: Alibaba Group, Service, Reuters, Business

☆ Alibaba shares jump after founder Jack Ma reemerges with praise of Chinese giant's 'transformations'
▼ + stars: | 2024-04-10 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Jack Ma, founder of Alibaba, reappeared in the public view in China for the first time in months. Alibaba founder Jack Ma on Wednesday praised the company's reorganization and change over its tumultuous past year, marking the billionaire's second major public statement to employees in just a few months. Daniel Zhang, longtime CEO of Alibaba Group, unexpectedly quit and then stepped down as CEO of the company's cloud unit. Ma is reemerging at a time when Alibaba employees are likely in need of a morale boost. The Alibaba founder also said Alibaba needs to think what e-commerce looks like in three years' time, especially since the arrival of artificial intelligence.

Persons: Jack Ma, Alibaba, Ma, ByteDance, Daniel Zhang, Eddie Yongming Wu, Joe Tsai, Tsai, Wu Organizations: CNBC, Wednesday, Ant Group, Alibaba, Cainiao Locations: China, Beijing

☆ Barclays lands New York Liberty jersey patch deal as WNBA popularity grows
▼ + stars: | 2024-03-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +2 min

Sabrina Ionescu of the New York Liberty participates in a 3-point challenge during the State Farm All-Star Saturday Night at Lucas Oil Stadium on February 17, 2024 in Indianapolis, Indiana. Barclays is the latest big corporation to align itself with the WNBA, signing a multi-year deal with the New York Liberty that will see the bank's logo appear on the team's jersey. Last season, the Liberty set a new WNBA attendance record with 17,143 fans attending game 3 of the WNBA Finals. New York Liberty CEO Keia Clarke, who earlier this year was named to the CNBC Changemakers list, said the team has seen an influx of interest from corporate partners. Furthermore, 12 of the team's new partners last season had never partnered with a WNBA team.

Persons: Sabrina Ionescu, Joe Tsai, Clara, Breanna Stewart, Keia Clarke, We've, Clarke Organizations: New York Liberty, Lucas Oil, Barclays, WNBA, Barclays Center, NBA's Brooklyn Nets, Alibaba, Liberty, Garden, CNBC Locations: Indianapolis , Indiana, Brooklyn, Madison

☆ Alibaba scraps IPO of logistics unit Cainiao, says it will take full ownership
▼ + stars: | 2024-03-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The Alibaba Group company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 14, 2024 in New York City. Alibaba on Tuesday said it was scrapping a planned initial public offering for its smart logistics unit Cainiao, adding to recent woes for the former Chinese tech darling. The shelving of the planned IPO — which would have been a boon to Alibaba, handing it an injection of cash with a key exit deal — comes after deteriorating market conditions in China. In a press release Tuesday, Alibaba said that it was withdrawing its IPO and listing application for Cainiao, and would also buy the remaining shares of the company it does not already currently own. Cainiao, which Alibaba first launched in May 2013, provides warehousing and fulfillment services, last-mile delivery and pick-up posts, and reverse logistics to customers of Alibaba's Taobao and Tmall e-commerce sites.

Persons: —, Alibaba, Joe Tsai Organizations: Alibaba Group, New York Stock Exchange, Investors, Baidu, U.S, Dow Jones Industrial, Tech Locations: New York City, Alibaba, China, U.S, Cainiao, Hong Kong

☆ Watch CNBC's full interview with Joe Tsai, Alibaba's new chairman
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Joe Tsai, Alibaba's new chairmanJoe Tsai, Chairman of Alibaba Group speaks to CNBC exclusively on the share performance, business strategy and intensified competition in China's e-commerce space.

Persons: Joe Tsai, Alibaba's Organizations: Alibaba, CNBC, China's

Trader works at the post where Alibaba is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. REUTERS/Brendan McDermid Brendan Mcdermid | ReutersChinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC's Emily Tan in an exclusive interview Friday. Questions about Alibaba's future have mounted after a series of internal changes, a scrapped cloud computing IPO and competition for its core e-commerce business. "Where we didn't feel as confident as before, we felt the competitive pressure, but now we're back." watch nowStock Chart Icon Stock chart icon Alibaba

Persons: Brendan McDermid Brendan Mcdermid, Joe Tsai, Emily Tan, Tsai Organizations: New York Stock Exchange, REUTERS, PDD Holdings, ByteDance, Alibaba Locations: New York City, U.S, China, Alibaba

☆ Alibaba's Joe Tsai says China-U.S. relations have reached a new normal
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba's Joe Tsai says China-U.S. relations have reached a new normalIn this new era of U.S.-China relations, Alibaba Chairman Joe Tsai says the countries will still compete fiercely on some fronts but also have to work together on other issues.

Persons: Joe Tsai Locations: China, U.S

☆ Alibaba is focusing on performance amid increased competition, Joe Tsai says
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba is focusing on performance amid increased competition, Joe Tsai saysAlibaba Chairman Joe Tsai said the company is investing in technology to better cater to consumers as the Chinese tech giant faces more competition, particularly in pricing.

Persons: Joe Tsai

☆ Alibaba's Joe Tsai says his investment in the company is an important show of confidence
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba's Joe Tsai says his investment in the company is an important show of confidenceAlibaba Chairman Joe Tsai says organizational structure and non-core asset sales are key to the company's restructuring efforts as the tech giant focuses on e-commerce and cloud computing.

Persons: Joe Tsai

☆ Alibaba shares jump 4% in premarket trade after it hikes share buyback program by $25 billion
▼ + stars: | 2024-02-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Shares of Alibaba jumped in premarket trade, as the company missed market expectations for revenue in the December quarter, but announced it is increasing the size of its share buyback program by $25 billion. U.S.-listed shares in the Chinese e-commerce giant were more than 4% higher in pre-market trade. Here's how Alibaba did in its fiscal third quarter, compared to LSEG estimates:Revenue: 260.35 billion Chinese yuan ($36.6 billion) versus 262.07 billion yuan expected. On top of its structural changes, Alibaba also scrapped the hotly-anticipated spinoff of its cloud computing business last year. More recently, two of Alibaba's co-founders, Jack Ma and Joe Tsai, in January bought shares worth around $200 million in the Chinese e-commerce giant.

Persons: Alibaba, Pinduoduo, Eddie Wu, Daniel Zhang, Alibaba's, Jack Ma, Joe Tsai, Evelyn Cheng Organizations: Revenue, Alibaba Locations: Suqian City, Jiangsu Province, China, premarket, U.S, Beijing

☆ Here are five stocks to buy as the market keeps rallying to record highs
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The market has officially entered a new bull market, leaving investors wondering which stocks can continue to outperform. Will Rhind, CEO at GraniteShares, thinks AI remains one of the strongest market themes in 2024. Nvidia Nvidia is "very much the leader in terms of AI stocks," said Rhind. AMD shares are up more than 20% year to date, and 135.8% during a 12-month period. Alibaba The China-based tech giant has experienced some turbulence, amid greater concerns of a weak Chinese economy and battered stock market.

Persons: Will Rhind, Rhind, hasn't, Alibaba, Jack Ma, Joe Tsai, Meta Rhind, we're Organizations: Dow Jones, Nasdaq, Nvidia, AMD, Meta Locations: China

☆ Alibaba co-founders buy more than $200 million worth of shares, sending stock up
▼ + stars: | 2024-01-23 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Alibaba co-founders Jack Ma and chairman Joe Tsai, in front of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Sept. 19, 2014. An entity linked to Tsai's family office, Blue Pool, acquired nearly 2 million Alibaba depository shares worth $152 million in the fourth quarter, according to a Tuesday regulatory filing. Separately, sources familiar with the matter told the Times that Ma acquired $50 million worth of Alibaba's Hong Kong stock during the same period. Around the same time the spinoff was canceled, Ma in a regulatory filing said that he would sell 10 million shares worth $870 million. Alibaba shares are down roughly 21% since the cancelled spin-off.

Persons: Alibaba, Jack Ma, Joe Tsai, Ma, Tsai Organizations: New York Stock Exchange, New York Times, Times, Depository, Brooklyn Nets, Ant, CNBC Locations: New York, U.S, Hong Kong

☆ Jack Ma backs off on plans to sell Alibaba shares after stock plunge
▼ + stars: | 2023-11-23 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Jack Ma has put off plans to sell hundreds of millions of dollars worth of Alibaba shares after the Chinese tech giant’s stock plummeted last week. Two regulatory filings from last Thursday revealed that Ma had been looking to offload 10 million shares, worth nearly $871 million. Ma believes that the Hangzhou-based firm’s stock “is currently significantly lower than Alibaba’s actual value, and he will not sell it,” she said. Alibaba co-founder Jack Ma. Since then, the entrepreneur has kept a relatively low profile while remaining an Alibaba shareholder.

Persons: Jack Ma, Ma, Jane Jiang Fang, Alibaba, Alibaba’s, Jiang, ”, Joe Tsai, Henri Szwarc, Ma’s Organizations: Hong Kong CNN, CNN, JC Properties, JSP Investment, Abaca, South China Morning Post, Hong Kong, Alibaba Locations: China, Hong Kong, Alibaba, New York, Hangzhou

☆ Alibaba sheds $20 billion in market value after scrapping plans to list its cloud business
▼ + stars: | 2023-11-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Shares of Chinese tech giant Alibaba tumble on Sept. 11, 2023 after the company said in a surprise move that outgoing CEO Daniel Zhang will also be stepping down as chairman and CEO of its cloud business. Chinese e-commerce giant Alibaba saw $20 billion wiped off its market capitalization after announcing that it would no longer spin off and list its cloud computing business. At Thursday's market close in Hong Kong, Alibaba's market cap was 1.65 trillion Hong Kong dollars ($211.6 billion). On Friday, Alibaba's market cap sank to 1.49 trillion Hong Kong dollars ($191.1 billion). That translates to a loss of $21.1 billion in market cap, according to CNBC calculations of data from FactSet.

Persons: Daniel Zhang, Alibaba, Joe Tsai Organizations: Cloud Intelligence, Cloud Intelligence Group, Amazon Web Services, Microsoft, Google, Hong Kong, CNBC Locations: Hong Kong, FactSet, Alibaba's Hong Kong

☆ Alibaba shares slide over 8% after it disappoints on profit, curbs cloud spinoff
▼ + stars: | 2023-11-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Here's how Alibaba did in the September quarter, compared with Refinitiv consensus estimates:Net income attributable to ordinary shareholders: 27.7 billion yuan ($3.8 billion) versus 29.7 billion yuan expected. 27.7 billion yuan ($3.8 billion) versus 29.7 billion yuan expected. Revenue: 224.79 billion yuan ($31 billion) versus 224.3 billion yuan expected. On Thursday, Alibaba said that the U.S. chip restrictions have "created uncertainties for the prospects of Cloud Intelligence Group."

Persons: Alibaba, Eddie Wu, Daniel Zhang, Joe Tsai Organizations: Alibaba, Holding, Smart, U.S, Cloud Intelligence, Amazon Web Services, Microsoft Locations: Chongqing, China, U.S

☆ Alibaba upgrades AI model Tongyi Qianwen, releases industry-specific models
▼ + stars: | 2023-10-31 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The Alibaba Cloud logo is displayed near a screen showing the website of its Tongyi Qianwen AI chatbot, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsHONG KONG, Oct 31 (Reuters) - Chinese technology giant Alibaba (9988.HK) said on Tuesday it has updated its artificial intelligence (AI) model Tongyi Qianwen and released a suite of industry-specific AI models amid an intensifying AI race among tech companies. It also said it has launched eight AI models for the entertainment, finance, healthcare and legal industries. The GPT-3 AI model from Microsoft-backed (MSFT.O) OpenAI contained 175 billion parameters in 2020 and Meta Platform's (META.O) Llama 2 model had 70 billion parameters in 2023. At the conference, Chairman Joe Tsai also said about half of large-language AI models in the China now run on Alibaba Cloud.

Persons: Florence Lo, Tencent, OpenAI, Joe Tsai, Josh Ye, Brenda Goh, Jacqueline Wong, Christopher Cushing Organizations: REUTERS, HK, Microsoft, Meta, Thomson Locations: HONG KONG, Hangzhou, China

☆ Former Alibaba CEO Daniel Zhang quits cloud in surprise move amid landmark restructuring
▼ + stars: | 2023-09-11 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Daniel Zhang, the outgoing chairman and CEO of Alibaba, has stepped down from his position running the company’s cloud division in a surprise move announced just months after he assumed the pivotal role. Daniel Zhang, the then CEO of Alibaba, speaks at a conference in Shanghai in November 2022. Han Haidan/China News Service/Getty ImagesEddie Yongming Wu will succeed Zhang as acting chairman and CEO of its cloud unit, Alibaba said Monday. Significant restructuringIn March, Alibaba announced it would split into six separate units, including cloud, e-commerce, logistics, media and entertainment. Analysts said Zhang’s departure from the cloud business came as a surprise, but should not affect a potential IPO of the unit.

Persons: Hong Kong CNN — Daniel Zhang, Zhang, “, “ Mr Zhang, Daniel Zhang, Han Haidan, Eddie Yongming Wu, Alibaba, Joseph C Tsai, Wu, Joe Tsai, Steven Ferdman, Tsai, —, ”, ” Tsai, Jacob Cooke Organizations: Hong Kong CNN, ” Citi, Alibaba, China News Service, Cloud Intelligence Group, Paley International, Paley Museum, CNN, Brooklyn Nets, New York Liberty, South China Morning, Alibaba Group, Analysts Locations: China, Hong Kong, Shanghai, New York, Alibaba

☆ China's JD.com brings back veteran to lead new grocery business as rival Alibaba plans spinoffs
▼ + stars: | 2023-06-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

JD.com set up an "Innovative Retail" division that houses its grocery business 7Fresh. The "Innovative Retail" unit will house JD's grocery store business 7Fresh and group buying unit Pinpin, a spokesperson confirmed to CNBC. Yan Xiaobing, who retired from JD in 2021 after leading the company's international business, will return to head up the Innovative Retail group, the spokesperson said. Alibaba , JD's biggest e-commerce rival in China, split its company into six separate business units this year, the biggest restructuring in its history. One of the business units Alibaba separated out in its restructure is a "local services" group, which covers its food delivery and grocery businesses.

Persons: JD.com, Yan Xiaobing, Yu Rui, Hu Wei, JD's, Daniel Zhang, Alibaba, Eddie Wu, Joe Tsai, Sandy Ran Xu, Xu Lei, Xu Organizations: CNBC, JD, Innovative Retail, JD Logistics Locations: China

☆ Jack Ma Ally Joe Tsai to Take Helm of Alibaba
▼ + stars: | 2023-06-20 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, joseph, tsai, daniel, zhang

☆ CNBC Daily Open: The Chinese dragon's still dozing
▼ + stars: | 2023-06-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Blinken unexpectedly meets XiU.S. Secretary of State Antony Blinken ended his China visit by meeting with Xi Jinping, the country's president. Nonetheless, they signal to markets that Chinese officials are ready to step in and support economic growth. CNBC Pro combed through FactSet data and found six stocks that are on the verge of forming the golden cross.

Persons: Blinken, Antony Blinken, Xi Jinping, Blinken's, Joe Biden, Xi, Eddie Wu, Alibaba's, Daniel Zhang, Joe Tsai, Zhang Organizations: CNBC, Xi U.S, U.S, Markets, Juneteenth, China's, Bank of, Tmall, Alibaba's Cloud Intelligence Group, Analysts Locations: Dongguan, Guangdong Province of China, China, frayed U.S, America, Asia, Pacific, China's Shanghai, Bank of China

☆ Who is Alibaba's new CEO Eddie Wu and chairman Joe Tsai?
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Eddie Yongming Wu will step in as CEO, while Joe Tsai will take over as chairman on Sept. 10. Eddie Wu, incoming CEOEddie Wu is one of the co-founders of Alibaba, who first served it as a technology director back in 1999. Joe Tsai, incoming chairmanAnother co-founder of Alibaba, Joe Tsai was appointed as the company chief financial officer until 2013 and currently serves as executive vice chairman. He is also the chairman of Alibaba's logistics unit Cainiao, as well as a member of the Taobao and Tmall division. Joe Tsai will take up the role of chairman at Alibaba after current chairman and CEO Daniel Zhang steps down.

Persons: BABA BABA, Daniel Zhang, Eddie Yongming Wu, Joe Tsai, Jack Ma, Eddie Wu, Alibaba, Wu, Eddie Wu's, shouldn't, Jacob Cooke, Cooke, Jp Yim, Tsai, Lazada, Michael Evans Organizations: Alibaba, Ant Group, CNBC, Getty, Brooklyn Nets Locations: China, U.S, Lazada, Europe, Singapore, Asia

☆ Alibaba CEO Daniel Zhang to step down. Here's what it means for the Chinese tech giant
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba CEO Daniel Zhang to step down. Here's what it means for the Chinese tech giantAlibaba CEO Daniel Zhang plans to step down from his role in September. Eddie Wu will take over as CEO, and Joe Tsai will become chairman. Both Wu and Tsai are Alibaba veterans and close confidants of founder Jack Ma. CNBC's Arjun Kharpal breaks down the moves.

Persons: Daniel Zhang, Eddie Wu, Joe Tsai, Wu, Tsai, Jack Ma, CNBC's Arjun Kharpal

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