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Alibaba shares rise as AI drives 34% cloud sales jump

Alibaba reported a 34% year-on-year rise in cloud computing revenue to 39.8 billion yuan, exceeding expectations.
Alibaba's AI-powered Qwen app surpassed 10 million downloads within the first week of its public launch.
The company has deployed about 120 billion yuan in capital expenditure towards AI and cloud infrastructure over the past 12 months.

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24 Articles

Alibaba's cloud business revenue soars 34% driven by AI boom

HONG KONG — China’s Alibaba Group posted a 34% jump in revenue from its cloud business in its most recent quarter, buoyed by the boom in artificial intelligence.

21 hours ago·Tulsa, United States

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Financial Post

Lean Right

Alibaba's cloud business revenue soars 34% driven by AI boom

HONG KONG (AP) -- China's Alibaba Group posted a 34% jump in revenue from its cloud business in its most recent quarter, buoyed by the boom in artificial intelligence.

1 day ago·Canada

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City News

Center

Alibaba's cloud business revenue soars 34% driven by AI boom

HONG KONG (AP) — China’s Alibaba Group posted a 34% jump in revenue from its cloud business in its most recent quarter, buoyed by the boom in artificial intelligence. But overall revenue at the Chinese tech group for the July-September quarter increased by just 5% year-on-year to 247.8 billion yuan ($35 billion), and profit fell […]

1 day ago·Toronto, Canada

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