Alibaba's Revenue Jumps 9% as AI Cloud Growth Hits 45%—But a Profit Plunge Sends Shares Lower
Alibaba's Revenue Jumps 9% as AI Cloud Growth Hits 45%—But a Profit Plunge Sends Shares Lower
Cloud and AI product revenue accelerated in the June quarter, but a 75% drop in net income extended Alibaba's run of profit misses to a fifth straight quarter.
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