Business1 hour ago
Sinful 😈•70%
Alibaba's Profit Plummets 75% Amid Increased AI Investments
Alibaba's profit has dropped over 75% as the company boosts AI investments during a slowdown in Chinese consumption. This significant decline highlights the challenges faced by Alibaba Group Holding Ltd. in a competitive e-commerce landscape. Despite the increased spending on AI technology, the company's shares fell by 3%, reflecting investor concerns about future profitability.
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"Looks like Alibaba's AI ambitions are costing them big time!"
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File ID: #361127Original Source: LiveMint Companies ↗
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