📊 Alibaba reported a 75% profit drop for the June quarter, impacted by significant AI spending.
⬆️ Capital expenditure surged 75% to 67.7 billion yuan ($10 billion), driven by customer purchases, increased CPU capacity, and higher chip prices.
💰 Revenue grew 9% to 268.95 billion yuan, slightly exceeding expectations, with the cloud division up 45% year-on-year.
🚀 AI-related product revenue saw triple-digit growth for the twelfth quarter, and the company unveiled its powerful AI model, Qwen3.8-Max, and a model for consumer hardware.
#Alibaba #ArtificialIntelligence #TechNews
⬆️ Capital expenditure surged 75% to 67.7 billion yuan ($10 billion), driven by customer purchases, increased CPU capacity, and higher chip prices.
💰 Revenue grew 9% to 268.95 billion yuan, slightly exceeding expectations, with the cloud division up 45% year-on-year.
🚀 AI-related product revenue saw triple-digit growth for the twelfth quarter, and the company unveiled its powerful AI model, Qwen3.8-Max, and a model for consumer hardware.
#Alibaba #ArtificialIntelligence #TechNews