Alibaba's cloud business revenue soars 34% driven by AI boom
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. JD.com, its e-commerce rival, reported a 55% net profit drop in the same quarter. Alibaba started out in e-commerce and later turned its focus to cloud and AI technologies.
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. JD.com, its e-commerce rival, reported a 55% net profit drop in the same quarter. Alibaba started out in e-commerce and later turned its focus to cloud and AI technologies.
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