Alibaba Cloud, the cloud computing arm of Alibaba Group, has inaugurated its second data center in Thailand, expanding its infrastructure to meet the rising demand for cloud services and generative artificial intelligence (AI).

King Nvidia Earnings Ahead. Please click here for an enlarged chart of Chinese e-commerce company Alibaba Group Holding Ltd

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.

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.

Billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly $1 billion in recent months, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

KEY TAKEAWAYS Shares of Alibaba Group listed in the U.S. are jumping in premarket trading Thursday after the Chinese tech and e-commerce giant reported quarterly results that beat estimates.The company said revenue in its December quarter rose 7.

High interest rates and persistent inflation have hampered U.S. consumer spending for two years, leading to sluggish demand for non-essential items such as collectibles and luxury accessories. The e-commerce company has been pressurized by decreasing advertising revenue and faces intense competition from Amazon and China's Alibaba Group,