Alibaba Reports Mixed Q2 Results Amid Food War and AI Growth
Originally Published 4 months ago — by Bloomberg.com
Alibaba's revenue from AI products surged, helping offset a decline in profit due to intense competition with Meituan and JD.com in China's e-commerce sector. Despite a slight fall in operating income and overall revenue growth of 2%, cloud division sales and AI-related offerings showed strong performance. The company is heavily investing in AI development, including creating its own AI chip, to stay competitive in a rapidly evolving technological landscape, even as domestic price wars and regulatory warnings pose challenges.