Developing2 outlets · over 28 minutes
Alibaba Cloud Revenue Jumps 45% on AI Demand
Alibaba posted a 75% profit fall for the June quarter as AI spending weighed on results. Cloud revenue rose 45% to 48.4 billion yuan, while total revenue grew 9% to 268.95 billion yuan. Capital expenditure surged 75% to 67.7 billion yuan.
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