Skip to content
The Nexus
BUSINESSAug 20 · 11:30 UTCQUARTZCris Tolomia

Alibaba's adjusted profit collapsed as the company doubled down on AI

Alibaba's adjusted profit collapsed, while net income fell to 10.54 billion yuan in the June quarter. Despite the decline in net income, the company reported that cloud revenue grew 45%, attributed to surging AI demand.

Nexus surfaces and summarizes. The full story lives at the source.

Mentioned
AlibabaorganizationAItopiccloud revenuetopicnet incometopicyuantopicJune quartertopic
Spot something wrong with this article?Report a problem →
Forward this
Related Signal

Adjacent reporting

Alibaba's adjusted profit collapsed as the company doubled down on AI · The Nexus