Alibaba's core profit plunges 84% even as AI and cloud growth accelerate

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Alibaba's core profit plunges 84% even as AI and cloud growth accelerate

AI Summary

Alibaba reported a staggering 84% drop in its core profit during the March quarter, despite seeing growth in its AI and cloud services. The company is focusing on significant investments in technology and e-commerce to drive future growth.

Alibaba on Wednesday said its core profitability plunged in the March quarter amid heavy investments in tech and e-commerce.

Markets Deals AI & Tech Alibaba Profit Decline AI Growth Cloud Services E-commerce Investment

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