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Alibaba’s profit dropped 84% as the company increased spending on AI infrastructure and quick-commerce expansion.
Tencent and Alibaba are in talks to invest in DeepSeek at a valuation exceeding $20 billion.
Alibaba reports a 66% profit drop as AI and cloud investments weigh on earnings despite strong demand.
Alibaba shares climb as surging AI demand drives a 34% jump in cloud revenue and fuels higher long-term investment plans.