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Spending on AI, New Businesses Eats Into Profits of China’s Tech Giants
Alibaba, Tencent and JD.com ramped up investments in artificial intelligence, cloud infrastructure and overseas expansion in the first quarter, squeezing the companies’ bottom lines
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cnbc.com
Alibaba's core profit plunges 84% even as AI and cloud growth accelerate
Alibaba on Wednesday said its core profitability plunged in the March quarter amid heavy investments in tech and e-commerce.
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apnews.com
China's Alibaba reports 38% jump in AI and cloud revenue as it races to grow
China's Alibaba has reported accelerating AI and cloud revenue growth driven by the AI boom, which has jumped 38% in the January-March quarter compared to the year before.
