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Alibaba’s profit dives 75% after amping up AI spending, shares fell 3%

Thursday, August 20, 2026 - 23:35
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Alibaba’s profit dives 75% after amping up AI spending, shares fell 3%
Alibaba Group Holding Ltd.’s profit plunged more than 75% after China’s e-commerce leader ratcheted up AI spending while grappling with a broad Chinese consumption slowdown.

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