Chinese e-commerce firm Alibaba Group Holding posted its fastest revenue growth in over a year, beating analyst expectations as it capitalizes on the artificial intelligence boom in China.

Chinese e-commerce firm Alibaba Group Holding posted its fastest revenue growth in more than a year, beating analyst expectations as it capitalizes on the artificial intelligence boom in China. Alibaba said Thursday that its revenue for the quarter ended December grew 8% to 280.

Alibaba Group has announced a massive investment of 380 billion yuan ($52.44 billion) into generative AI and cloud computing infrastructure over the next three years. This sum surpasses Alibaba’s entire cloud and AI budget from the last decade.

Chinese e-commerce giant Alibaba Group Holding saw revenue rise 8 per cent in the December quarter to beat analysts’ estimates, as the company’s cloud computing services unit posted strong growth. The Hangzhou-based tech conglomerate on Thursday reported total revenue of 280.

Alibaba Group Holdings (NYSE:BABA) rallied in early trading on Thursday after issuing its FQ3 earnings report. The online retail giant reported an adjusted net profit of 51.07 billion yuan ($7.01 billion),

Alibaba Cloud invests $53 billion in artificial intelligence to drive AI infrastructure, cloud computing and LLMs as Alibaba Group ADR stock increases.

Alibaba Group Holding Ltd. (NYSE: BABA) has announced an investment of 380 billion yuan ($53 billion) for its cloud computing and AI infrastructure, making it the largest private computing project to date.

Alibaba Group Holding's Q3 earnings beat expectations, and its AI and cloud investments position it well for long-term gains. Click to read why BABA is a Buy.

KEY TAKEAWAYS U.S.-listed shares of Alibaba Group are rising in premarket trading Friday after GameStop CEO Ryan Cohen reportedly raised his stake in the Chinese tech giant and as investors cheered the company’s "aggressive" plans to boost AI spending.

Alibaba Group posted an 8% year-on-year increase in revenue for the December quarter of 2024 on Thursday, with its total revenue during the period

Alibaba Group's financial report for the fourth quarter of 2024 reveals an 8% year-over-year revenue increase, driven by the year-end shopping season. The revenue totaled CNY280.2 billion (US$38.6 billion),