US EditionAlibaba’s Hong Kong shares jump nearly 19% as AI boom drives cloud unit sales
Alibaba's cloud unit revenue rose 26% with AI product sales growing triple digits for the eighth consecutive quarter, boosting investor confidence despite food delivery challenges.
- On Monday, Alibaba Group Holding Ltd.'s Hong Kong shares jumped nearly 19%, boosted by investor optimism over its AI chip and cloud unit progress.
- The company's cloud unit delivered a 26% revenue rise to 33.4 billion yuan, while AI-related product sales maintained triple-digit growth in the quarter.
- The company reported total quarterly revenue of 247.7 billion yuan, while customer management revenue increased 10% to 89 billion yuan in the June quarter.
- Asian markets saw Alibaba lift the index, with the Hang Seng rising 2% and U.S.-listed Alibaba shares rallying about 15% after the results on Monday.
- Analysts including Chelsey Tam wrote on September 1 that cloud revenue growth could accelerate over two years despite profitability pressure from a fierce food-delivery price war with JD.com and Meituan.
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Alibaba Shares Soar 18.5% On Strong AI And E-Commerce Outlook
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Alibaba gains $50 billion value after AI progress fuels rally
Alibaba Group Holding Ltd.’s stock leapt more than 19% after reporting a surge in revenue from AI, underscoring the steady headway it’s making against rivals in a post-DeepSeek Chinese development frenzy. China’s e-commerce leader posted a triple-digit percentage gain in AI-related product revenue as well as a better-than-anticipated 26% jump in sales from the cloud division—the business most closely tied to the artificial intelligence boom. Tha…
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DNyuzForget the food delivery war — Alibaba makes clear the real play in China is AI
People visit an Alibaba booth at an exhibition in China.VCG/Getty ImagesAlibaba stock surged despite an earnings miss.AI and cloud growth stole the spotlight.But it's in a cutthroat, cash-burning food delivery war with Meituan and JD.com.Tech giant Alibaba has been fighting a bruising food delivery war in China. But the company's latest earnings make it clear that artificial intelligence is what investors really care about.On Friday, Alibaba rep…
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