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The Business Brief THURSDAY, 20 AUGUST 2026
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Alibaba Profit Dives 75% After AI Spending Hits $10 Billion

1 source ·1 article ·5h ago

Alibaba Group Holding Ltd.’s profit plunged more than 75% after the Chinese company ratcheted up quarterly capital spending to almost $10 billion, aiming to safeguard its position in a fiercely competitive global AI arena.

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Bloomberg 1

All coverage · 1 article

Bloomberg Technology ·5h ago

Alibaba Profit Dives 75% After AI Spending Hits $10 Billion

Alibaba Group Holding Ltd.’s profit plunged more than 75% after the Chinese company ratcheted up quarterly capital spending to almost $10 billion, aiming to safeguard its position in a fiercely competitive global AI arena.