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The Business Brief FRIDAY, 21 AUGUST 2026
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Alibaba Profit Dives 75% as AI Spending Ratchets Up

1 source ·1 article ·2h ago

Alibaba Group Holding Ltd.’s profit plunged more than 75% after the company increased quarterly capital spending to almost $10 billion to safeguard its position in the global AI arena. Bloomberg's Minmin Low reports. (Source: Bloomberg)

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Bloomberg Technology ·2h ago

Alibaba Profit Dives 75% as AI Spending Ratchets Up

Alibaba Group Holding Ltd.’s profit plunged more than 75% after the company increased quarterly capital spending to almost $10 billion to safeguard its position in the global AI arena. Bloomberg's Minmin Low reports. (Source: Bloomberg)