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Alibaba’s AI spending lifts capex 75% as quarterly profit falls 76%

This story is from 2026-08-21. It is preserved in the archive; the latest stories are on the live feed.

Alibaba reported RMB268.95 billion in revenue for the quarter ended June 30, up 9% year on year, while net income attributable to ordinary shareholders fell 76% to RMB10.54 billion. Capital expenditure rose 75% to RMB67.68 billion, mainly as the company increased investment in AI infrastructure. Al…

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  1. 2026-08-21 05:42 · TechNode
    Alibaba’s AI spending lifts capex 75% as quarterly profit falls 76%

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