The Chinese e-commerce company’s U.S.-traded shares rose more than 7% after Wednesday’s earnings announcement.
China’s Alibaba said that growth accelerated for both its artificial intelligence and cloud businesses in the latest quarter, driven by the AI boom, even though overall revenue rose just 3% to 243 billion yuan ($36 billion).
The Chinese e-commerce company’s U.S.-traded shares rose more than 7% after Wednesday’s earnings announcement.
China’s Alibaba said that growth accelerated for both its artificial intelligence and cloud businesses in the latest quarter, driven by the AI boom, even though overall revenue rose just 3% to 243 billion yuan ($36 billion). News
