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Alibaba Profits Plummet Amid Soaring AI Investment Costs
FinancebloombergFTAl Jazeera+9cnbcNHK WorldThe IndependentYahoocapital-bgjapan-timeschannel-news-asiaseeking-alpha+1 more1mo ago12 sources

Alibaba Profits Plummet Amid Soaring AI Investment Costs

Chinese tech giant Alibaba reported a significant drop in profits, nearing zero, despite its artificial intelligence business experiencing rapid growth. The substantial decline in earnings is attributed to the company's massive investments and increased spending on AI development and infrastructure.