Alibaba’s AI Arm Surges 34% While China Commerce Bounces Back
Alibaba Revenue Tops Estimates on Cloud, AI GrowthAlibaba Group Holding Ltd. posted better-than-projected 34% growth in its pivotal cloud business, highlighting the enormous demand for computing during China’s AI boom.That helped propel overall revenue 5% higher to 247.8 billion yuan ($35 billion) in the September quarter, just outstripping expectations. The company posted a 16% rise in Chinese e-commerce revenue for the period, suggesting it was faring well in a three-way battle with JD.com Inc...
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