Alibaba (BABA) Sees Profits Drain 84% Despite Cloud and AI Growth Surge

AI Summary

Alibaba reports an 84% decline in profits, attributed to heavy investments in AI and cloud services, alongside challenges in its core e-commerce business. This reveals the financial strains technology companies are facing.

Alibaba has recorded a staggering drop in core profitability as heavy spending on AI and e-commerce weighs on earnings. At the same time, the ...