25 August 2026
Alibaba raises $10.2 billion for AI despite profit drop
First reported
Prompt Engineering Daily ran this on .
- Alibaba, the Chinese e-commerce and cloud company, is raising $10.2 billion specifically for AI infrastructure and technology development.
- The company's net profit fell 75%, driven by heavy spending on AI systems, though executives say customer demand means their investment will pay back faster than previously expected.
