Alibaba AI outlays dent profit despite best revenue growth in years

TechnologyCapex surges 75% on year as group braces for agent demand, faces higher chip costsAlibaba is spending big on its AI ambitions. © ReutersCISSY ZHOUAugust 20, 2026 19:57 JSTHONG KONG -- Alibaba Group's profit for the April-June quarter shrank 75% to 10.44 billion yuan ($1.55 billion), the Chinese conglomerate s

China's Alibaba posted stronger growth in its key cloud division in the June quarter, as rising demand for its AI products boosted results.That came even as net income dropped 75% year-on-year to 10.4 billion Chinese yuan due to a rise in spending on cloud infrastructure.U.S. listed shares fell 4% in premarket trading.

Airport says passenger demand resilient despite airline capacity cuts, global disruption.

"Buy now, pay later" company Klarna posted a shocking 27% revenue jump between April and June 2026. Stacy Cowley, a business reporter for The New York Times, breaks it down.

STOCKHOLM, Aug 18 : Klarna, the Swedish "buy now, pay later" services provider and online bank, posted a profit in the second quarter on Tuesday while analysts had expected a net loss, helped by growth in its U.S. markets.The company said its quarterly net profit was $9 million compared with ​a loss of $53 million in t