Chinese technology giant Alibaba (BABA) has shutdown its quantum computing laboratory and research arm amid a broad company restructuring.
Alibaba said that it plans to donate both the quantum computing lab’s equipment and research findings to Zhejiang University in China.
However, Alibaba said that it plans to continue its current research into artificial intelligence (A.I.) with a view to being a global leader in that space.
The quantum computing lab had only 30 employees and was a small part of Alibaba’s overall research and development (R&D) team.
Most of the impacted employees are expected to move over to Zhejiang University and continue their work at the school.
Alibaba’s quantum computing lab had primarily focused on machine learning and some A.I. research, said the company in a statement.
The closure of the lab is the latest internal change at Alibaba, which said in March of this year that it would split its business into six separate operating units.
The stock of Alibaba has declined 15% this year and currently trades at $78.49 U.S. per share.
