Alibaba Is Sacrificing 75% of Its Profit for AI Is That Actually a Good Bet?

Alibaba just showed us how expensive the AI race really is. The Chinese tech giant reported a 75% year-on-year drop in net profit for the April-to-June quarter. Profit fell from around 43.1 billion yuan to 10.5 billion yuan. And yet… Alibaba’s revenue actually increased by 9%, reaching almost 269 billion […]