What to know

• Internewscast Journal Internewscast HONG KONG – Alibaba posted a steep 75% decline in quarterly profit… This Post: Alibaba Profit Plunges 75% as AI Spending Weighs on Quarterly Results first appeared on Internewscast JournalS1
• Alibaba’s net profit fell 75% in the June quarter, to $1.54bn. The cause was not a weak business. It was the bill for building one. Capital spending reached $9.98bn in three months, up 75% on the same quarter last year, according to the results announcement. I...S2