Alibaba shares fall 4% as AI spending drives 75% drop in net income
Alibaba‘s U.S. shares dropped 4% in premarket buying and selling Thursday after the Chinese tech big posted net income that plummeted 75% in the June quarter. The firm has been investing closely in AI infrastructure. The spending has weighed on its outcomes, with capital expenditure up 75% to 67.7 billion Chinese yuan. The soar in…