Forget the food delivery war — Alibaba makes clear the real play in China is AI

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 reported a 2% rise in overall revenue to 247.65 billion Chinese yuan, or $34.6 billion, for the quarter ended June 30 — missing analysts' forecasts of $252.92 billion yuan in revenue. Operating profit dropped 3% to 35 billion yuan.Despite that drag, investors piled in. Alibaba's New York-listed share ...