Alibaba stock dropped over 7% as investors digested heavy AI infrastructure spending and profit pressure, despite a 45% surge in AI Cloud revenue.

Alibaba's U.S. shares dropped 4% in premarket trading Thursday after the Chinese tech giant posted net income that plummeted 75% in the June quarter.The company has been investing…

Tech giant posts fastest growth in cloud and AI revenue in 22 quarters, with capex up 75% amid fierce competition in the sector.