Alibaba quarterly profit drops 75% as AI investment spending grows

Alibaba quarterly profit drops 75% as AI investment spending grows  Toronto Star

China’s Alibaba reported a 9 per cent rise in quarterly revenue on Thursday, as strong AI demand fueled growth in its cloud business, but missed estimates for adjusted profit due to heavy capital expenditure.

China's Alibaba reports a 75% drop in profit for the latest quarter from the year before to roughly $1.6 billion as it invests heavily in AI infrastructure

China's Alibaba reports a 75% drop in profit for the latest quarter from the year before to roughly $1.6 billion as it invests heavily in AI infrastructure

Alibaba's U.S. listed shares were volatile in premarket trading after posting a 75% drop in net income in the June quarter.

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