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Alibaba shares fall as AI spending drives 75% drop in net income
CNBC Television· 2026-08-20 14:00
Financial Performance - Alibaba shares fell about 4% following the earnings release [1] - Revenue exceeded analyst estimates, while the bottom line fell slightly short of forecasts [1] Market Dynamics and Business Segments - Cloud revenue growth accelerated by 45% [1] - Artificial intelligence-related product revenue experienced triple-digit growth for the 12th consecutive quarter [1]