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The Business Brief THURSDAY, 20 AUGUST 2026
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Alibaba’s Profit Dives 75% After Amping Up AI Spending

1 source ·1 article ·2h ago

Alibaba Group Holding Ltd.’s profit plunged more than 75% after China’s e-commerce leader ratcheted up AI spending while grappling with a broad Chinese consumption slowdown.

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Bloomberg 1

All coverage · 1 article

Bloomberg Technology ·2h ago

Alibaba’s Profit Dives 75% After Amping Up AI Spending

Alibaba Group Holding Ltd.’s profit plunged more than 75% after China’s e-commerce leader ratcheted up AI spending while grappling with a broad Chinese consumption slowdown.