Alibaba just dropped a bombshell of a September quarter, exceeding revenue expectations thanks to its AI prowess! The star of the show? Qwen, Alibaba’s brand-new AI app, which snagged a whopping 10 million downloads in its FIRST week. Talk about making an entrance!
While net profit saw a dip (blame those hefty AI investments – gotta spend money to make money, right?), Alibaba’s cloud computing revenue also experienced a significant jump. This highlights Alibaba’s full-throttle push into AI and the infrastructure backing it all up. It seems their bet on the future is paying off.
What does this mean for you? Keep an eye on Alibaba’s AI advancements. Qwen’s success signals a potential shift in how we interact with technology.
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Source: TechCrunch
Link: [https://techcrunch.com/2023/11/16/alibaba-q3-2023-earnings/](https://techcrunch.com/2023/11/16/alibaba-q3-2023-earnings/)