Alibaba's Next Bet is Robots

Alibaba wants to put a robot, specifically one named Pepper, in your home — or store. The Chinese e-commerce giant and Foxconn Technology Group announced they're each investing $117.8 million in Japanese telecommunications giant SoftBank’s robotics unit, SoftBank Robotics Holding Corp. Softbank will own 60 percent of the joint venture, with Alibaba and Foxconn each holding ownership stakes of 20 percent. The three companies plan to bring SoftBank’s human-like robot, Pepper, to global markets, envisioning it for use across a range of sectors, ranging from healthcare to at home.