Chinas Alibaba reports 38% jump in AI and cloud revenue as it races to grow
HONG KONG — China’s Alibaba said that growth accelerated for both its artificial intelligence and cloud businesses in the latest quarter, driven by the AI boom, even though overall revenue rose just 3% to to 243 billion yuan .
Revenue from its Cloud Intelligence Group, which focuses on cloud computing and AI developments, jumped 38% in the January-March quarter from a year ago. That was faster than the 36% and 34% growth in the previous two quarters, respectively.
