AIThe Next Webabout 1 hour ago
Alibaba profit drops 75% as AI spending hits $10bn
1 min read
Alibaba's net profit fell 75% to $1.54bn in the June quarter as capital spending hit $9.98bn, up 75% year on year. AI Cloud revenue rose 45% to $7.14bn, while free cash flow turned negative at $6.58bn.
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