CNBC
US · 1 hrs ago
✦ 78◉ Centre
Alibaba's core profit plunges 84% even as AI and cloud growth accelerate
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Credibility 78/100
Partisan intensity 25/100
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◉ Centre ✓ Fair headline
Alibaba reported an 84% decline in core profit for Q1 despite accelerating growth in AI and cloud services, driven by heavy investments in technology and e-commerce infrastructure.
Alibaba's core profit plunges 84% even as AI and cloud growth accelerate
Alibaba on Wednesday said its core profitability plunged in the March quarter amid heavy investments in tech and e-commerce.
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