Alibaba’s profit fell 75% as quarterly AI spending hit $10bn
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Alibaba’s net profit fell 75% in the June quarter, to $1.54bn.
The cause was not a weak business.
It was the bill for building one.
Capital spending reached $9.98bn in three months, up 75% on the same quarter last year, according to the results announcement.
In the same accounts, the cloud unit that spending pays […]
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